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Non-Judicial Foreclosure is a procedure does not require court action because the title stays with the lender until full payment on the loan is made. At the start, the lender issues a deed of trust which can include a power of sale clause on the property. This involves sale of the property by the mortgage holder without court supervision. When the borrower doesn’t make the loan payments according to the terms, a Notice of Default is sent to the borrower. After a specified holding period, a Notice of Trustee Sale can be posted on the property. This process is much faster than a Judicial Foreclosure because the owner of the home does not have a redemption period (or has a very short one) to get back up to date with payments.
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#1 Bank Foreclosure Site In Canada It was in the year 2007 that the websit www.ForeclosureSearch.ca was launched because its creator saw how much people specifically investors and prospective home buyers needed comprehensive information on foreclosures, properties on sale, and related searches. The website aims to deliver to its subscriber’s timely and accurate foreclosure information; and up to this day, it continues to uphold its goal, delivers its promise, and makes the lives of its subscribers as convenient as possible. This excellent service has paid off too as the website now ranks no. 1 as the foreclosure data provider in Canada.
Better than a realtor Usually, a realtor will not give you the full contact information of the listing realtor of a foreclosure (or any home listing, for that matter). Realtor's make their commissions from you by being your "buyer's agent", and will try to control the buying process as much as possible in order to make their commission.Luckily, that's where we come in! We make NO commissions. Instead, we give you full contact info of the property's LISTING realtor. Since this agent is now making BOTH the buyer's and seller's commission, with some smart negotiating, you can often pursue him/her give you a discount on their commission, saving you thousands more on your already bargain-priced home! Better than the MLS? Foreclosure listings from the law courts? Foreclosure listings from banks? ForeclosureSearch.ca is the secret weapon of savvy home-buyers and property investors... who get the latest bargain-priced homes the moment they come up for sale!
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