For anyone living in Cambridge, an eviction by Power of Sale or Foreclosure is an unexpected hardship. Most people can’t imagine that something like that could happen to them and many are unable to make payments due to unforeseen circumstances. For anyone facing a Foreclosure or Power of Sale, it is in your best interest to act immediately since costs increase each day leading up to the eviction. Our professional consultants understand the eviction processes in Ontario, and we can help decide which option is best for you.
Typically, lenders in Cambridge will use the Power of Sale process since it is cheaper and faster than the Foreclosure process. Foreclosure typically takes many months, and is only used in certain situations. In contrast the Power of Sale process is much faster. The home owner can be evicted in as little as 120 days once the borrower defaults on their payments. With either process, the home owner can lose all of the equity in their property  due to legal fees.
Using these legal processes to evict someone costs lenders a lot of time and resources. Typically it is more beneficial for both the lender and the borrower to make the monthly payments. The majority of lenders in Ontario will wait several months before starting a Power of Sale. It is very difficult to stop this legal process once it is started.
For people facing an eviction, your best course of action is to talk with the lender and try to go over your potential options. Ask the lender or their lawyer when you will be evicted, sometimes it may be many weeks in the future. In some cases, a lender will give you more time before they evict, and make extra accommodations if you work with the lender. Please, do not avoid talking to the lender, as this will agitate them, and force them to charge additional penalties.

Important documents received from lenders include: Notice of Default, Statement of Claim, Writ of Possession, and Eviction Notice.

If you contact us with these documents in hand, we can review them with you. We will explain the process for you and outline the best course of action for your particular situation.

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