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My Mortgage Is In Arrears


What to do? What not to do?

905.537.8815 FSCO No. 10420

Banks and "A" Lenders pay us for your service. EXCEPT bad credit mortgages, some self employed mortgages, private mortgages or multi-use and commercial loans - broker fees are payable by clients. Lenders change their products and interest rates without notice.

Hamilton, Stoney Creek, Grimsby, Niagara, Binbrook, Ancaster, Dundas, Burlington, Milton, Oakville, Mississauga, Toronto, Markham and Ontario.

Marie Copeland @AxcessMortgage

My mortgage is in arrears - what to do? People get behind in mortgage payments for many reasons, illness, accidents, loss of job and many other life's ups and downs.

If you need a fast short term fix and have sufficient equity in your home, we can help with a mortgage for bad credit. 


what to do with mortgage in arrears

Depending on what you're up against, we can look at a number of new home refinance bad credit mortgage strategies. We can pay off your existing first mortgage and increase the loan amount to cover the arrears. Or, we can leave your existing first mortgage in place. With the help of private lenders, we'll register a second mortgage behind your first and get you enough money to bring you to good standing.

If you do not qualify for institutional alternative mortgage financing we'll get you money from private mortgage lenders Burlington Ontario or second mortgage Hamilton help to bring your mortgage to good standing fast.

We understand how awfully stressful this experience is for you. It is clear that you need help immediately. Once you fall into arrears with your existing lender, they will make a courtesy call to bring to your attention that your payment has gone NSF (not sufficient funds in your bank account to cover this payment). In many cases, this is a one time occurrence and you'll be able to reinstate the missed payment. You should always tell the truth about your situation when your existing lender calls.

Try to attempt to come to some terms with your lender to correct your problem prior to your existing lender instructing their solicitor to issue a demand letter or start enforcement proceedings.


What not to do when mortgage is in arrears

Once your mortgage is in arrears DO NOT deny the problem or try to tell the lender it's a bank error, unless it is - they've heard that before. Once you say this, the mortgagee may ask for proof from your bank of error verification - if this is not true, they will not trust you again. 

Instead, do not ignore the call and tell the lender what happened to cause you to fall in arrears. Do not ignore their calls or letters to you -- this will make things worse as you continue dealing with them and if in the end they start legal action against you.

Most lenders are pleasant and reasonable when the borrower acts in good faith with how they intend to remedy the situation -- and when they return calls right away. 

If your situation has gotten out of control and your lender is looking for a resolution -- don't delay but contact me for help. It can only get worse if you don't take the correct action.

Marie Copeland FSU, Bad Credit Mortgage Hamilton, Private Mortgage Lenders Burlington


Call 905.308.8063, or

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