Alberta takes 1st place in Mortgage Foreclosures

 

 

Everyone likes to come in First place but not when we are talking about  Mortgage Foreclosures.  This is making “Big News” and the hype is up on how we are leading Canada and that we are double what we were the last few years and I’ve heard other reports as high as 3,500 in foreclosure proceedings here in Alberta. By providing the highest quality of home mortgage Alberta, best mortgage rate Alberta, low mortgage rates Alberta mortgagebrokerrate.com can help you even when you cannot help yourself.

Most people give up when they get behind on payments, taxes, condo fees, or special assessment fees.  Once they go into foreclosure and people get the notice most of them do everything they can to sell, refinance, or straighten things out.  I know a condo complex that had almost 30 people go into foreclosure proceedings at the beginning of the year.  Once they got the letter about being foreclosed on they cleared up and now months later there are only 2 people left.  The 2^nd  point is that foreclosure proceedings don’t necessarily mean they are going to be foreclosed on. 

 

Please before everyone freaks out this is Canada not the U.S, we are very conservative.  Even if there were 3,500 foreclosures with a population around 3.5 million we are at 1% on the population.  Now I’m not saying foreclosures aren’t a big deal and it is a huge deal for those 2,500 – 3,500 going through one.  Here is a link to another video and report that explains how you can avoid going through a foreclosure.