LeClair Thibeault

Foreclosure Defence

Foreclosure Defence

A foreclosure notice isn’t the end. LeClair Thibeault will fight for your rights. We’ll minimize damage to your credit, help you to either remain in the property or find a new home.

Foreclosure

DONE NOW. DONE RIGHT. ®

Foreclosure is what happens when a person or corporate entity becomes delinquent on a mortgage. There could be more options for dealing with it than you think.

Don’t stop communicating

Keeping an open line of communication with the lender is the most effective way for you to improve your situation. Avoiding phone calls might feel better, but it won’t improve your situation.

 

Lenders will be more willing to modify your loan if you Express that you want to remain in the home, Articulate a financial plan for getting current again with the mortgage and Show that you’re willing to come to a payment plan

Your lender doesn’t want to foreclose

It may seem otherwise, but your lender doesn’t want to foreclose on the property.  Banks and other lenders take losses when they need to sell foreclosed properties;  If they can avoid having to make a short sale, they will,  If they believe that you can become current on the mortgage again, they’ll probably extend you better terms, A delinquent mortgage looks worse on their books than a modified loan

Develop a financial plan

We can help you to argue your case more effectively.  If you can realistically change the situation so that it becomes the lender’s advantage to keep you in the house, they’ll be less likely to proceed with foreclosure.  If you have an interruption in employment or have suffered losses on investments, come up with a plan for how to replace the cash flow.

 

If the delinquency arose due to a temporary issue like a medical crisis, explain the situation in a letter

Write a letter of forbearance or hardship

The document that you want to draft is a letter requesting a forbearance or describing the difficulty that you are experiencing. Our lawyers can help you to format the letter and advise you on what content to include.

 

Favorable letters establish why the difficulty is temporary and why it will be in the bank’s best interests to delay foreclosure or modify the mortgage. They also include a realistic improvement plan that includes some solid figures.

areas of expertise

When it comes to protecting your real estate, experience is an invaluable asset. We are the preeminent Real Estate law firm in Alberta.

Real Estate

There’s more to structuring a mortgage than just getting a low-interest rate. We’ll ensure tax efficiency, minimize hidden fees, and protect your Real Estate rights. We also structure transactions to ensure that you increase your gains and minimize your risks. You need the right team behind you for support. Go with the experts.

Wills & Estates

A well-planned estate can make the difference between a smooth and drama-free transfer of assets and a multi-decade long conflict among family members. Our expert estate lawyers will ensure that inheritance issues won’t disrupt your family harmony. When drafting a will, it’s critical that it be Done Now. Done Right.®

Foreclosure Defence

A foreclosure notice isn’t the end. LeClair Thibeault will fight for your rights. We’ll minimize damage to your credit, help you to either remain in the property or find a new home, and defend your assets from seizure. Don’t let the banks dictate terms to you. You don’t have to fight foreclosure alone: we’ll stand with you.

Commercial Law

Alberta’s leading financial institutions trust LeClair Thibeault above most other area law firms. Our commercial law group focuses include business sales and purchases, commercial purchases, refinancings,  secondary lending and more. When your business is on the line, get it right the first time.

Corporate Law

Get your corporate law issues right the first time. Get expert help with partnership agreements, reorganizations, share issuance, and more.

Alberta’s leading financial institutions trust LeClair Thibeault above most other area law firms. Our corporate law focuses include business sales and purchases, incorporations, reorganizations, partnership or shareholder agreements, and more. When your business is on the line, get it right the first time.

CONTACT US TODAY

Foreclosure is a sensitive matter. Protecting your privacy is our legal obligation. Our specialists are eager to help you to resolve your foreclosure to your advantage.

Your legal matter is important to us. You can either use our convenient online contact form or call our office for more information about working with us. We provide free fee estimates for real estate transactions and more. Your issue will be Done Now. Done Right.®