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Real Estate Cactus - Canadian Foreclosure Listings and Bob Johnson are pleased to announce that they offer foreclosure listings Canada information. The expectation is that there will be a rise in mortgage rates, meaning that many buyers are interested in the opportunity to purchase foreclosed homes. The listings allow for searching to foreclosed, repossessions, power of sale and distress sale homes in Canada. In addition to listings, the website includes the latest educational details on the topic of foreclosures and other real estate-based information.Details about the power of sale process and how it works in Ontario are included on the site. Two distinct types of power of sale: Contractual and Statutory. The differences between power of sale and foreclosures are also described. The 'power-of-sale' process was intended to keep foreclosure out of the court system and permit the lender to get the defaulted loan back in order. The power of sale can occur relatively quickly.
A foreclosure is a legal process where the lender actually has the court's directive to take possession of the property. Foreclosure rules are more strict than those of a power-of-sale. Under this process, any profits that arise from the sale of the house go to the lender, as does any loss.
The major differences between the two process are relatively few but significant. With the power-of-sale, the borrower remains the title holder and the property is usually sold using a realtor. The borrower is responsible for any losses and any extra money from the sale goes to the borrower. With the foreclosure process, the property gets transferred to the lender and is usually sold at auction. The borrower is not responsible for any losses and any extra money goes to the lender. There is much more information available on the website with additional blog titles.
Contact Info:
Name: Bob Johnson
Email: Send Email
Organization: Real Estate Cactus - Canadian Foreclosure Listings
Address: 4-115 First Street Suite 523, Collingwood ON L9Y 1A5
Phone: (705) 242-2712
Website: https://www.realestatecactus.com/
Release ID: 456760
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