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Can I give my house in Montréal back to the bank without an expensive foreclosure?
Trying to avoid financial recovery in Montreal? You may be thinking of giving your house back to the bank… Is that a wise decision?

Can I give my house back to the bank in Montreal without going through a costly foreclosure?

The answer is YES! (But with certain reservations, see below for more details).

Can I give my house back to the bank in Montreal without going through a costly foreclosure?

There are many ways to avoid an expensive foreclosure in Montreal.

If you want to avoid repossession in Montreal, the first thing to do is contact your lender to discuss your options for avoiding foreclosure.

You must act before you fall too far behind in your mortgage payments
to prevent finance from being repossessed. You should contact your financial institution as soon as you know you’re at risk of missing a mortgage payment and inform them of your financial situation.

Your lender would prefer to come to an arrangement with you, since foreclosing on your property would result in its devaluation. Foreclosing on you would therefore result in losses for your lender.

You need to be open and honest with your mortgage lender.

Your lender may work out an arrangement with you whereby your Sell House fast, 60 days notice, financial recoveryinterest rate will be reduced, thereby lowering your monthly payments. If you’ve missed one or two payments, but are now able to pay, the bank can usually add these repayments to your loan and consider that you’ve caught up. The bank won’t accommodate you if you don’t tell them about your situation and plans, and ask for their help.

Pay your mortgage or credit cards?

Sell your home quickly to a home buyer, cash or with an agentYou can avoid foreclosure if you pay your mortgage payment before any other expenses. Paying a mortgage is an essential monthly expense. Paying off your credit cards should never take precedence over paying off your mortgage. You’ll be able to deal with the consequences of non-payment of your cards much more easily than those of non-payment of your mortgage.

Missing your mortgage payments is the worst thing you can do for your credit history. Falling behind on other debts (such as credit cards) will never hurt your credit rating as much as falling behind on your mortgage. In any case, non-payment of your mortgage could cause problems with your credit cards. The latter are therefore not a priority when it comes to paying your monthly bills.

Is selling your Montreal, Quebec home a way to avoid financial recovery?

60-day notice, sell house fast

One way to avoid repossession is to repay your mortgage by selling your property.

You could probably get out of the financial hole you’re in by selling your home for enough money to pay off your mortgage in full. In some cases, you might even have a little money on hand to start afresh. Sell House fast, 60 days notice, financial recoveryIt’s a great way to avoid both foreclosure on your Montreal home and disaster on your credit rating.

Another way to prevent foreclosure on your Montreal property is to keep your expenses to an absolute minimum. If you can reduce your expenses sufficiently, you may avoid having to sell the house you love so much. For the self-employed, a good way to reduce expenses is to stop renting an office and create a home workplace. You could also consider selling a car and having just one that you share.

You can certainly be proactive and do something to prevent foreclosure, a drastic drop in your credit rating and financial disaster.

We’re buying houses in Montreal… Can we make you an offer?

Here at Vendre Maison Vite, we buy homes in and around Montreal and Quebec City , and we may be able to help you sell your home and avoid foreclosure.

The procedure is very simple:

  1. Fill out the form by clicking here

    or call us at 514-320-1000 and we’ll make you an offer within 24 hours.
  2. If you accept the offer, we’ll produce documents and come to your home to sort out the paperwork.
  3. We buy your home at your convenience (in as little as 3 days).

That’s all there is to it!