In the unfortunate circumstance that a homeowner is past-due on their monthly mortgage payments, they pave the way for a “foreclosure” on their property. In today’s market, banks and other lenders do not turn to foreclosure to take away the homes of homeowners who are in arrears. Instead, they perform a "Power of Sale" which is wholly different from a Foreclosure. What is a Foreclosure? Foreclosures are laborious, grueling, and costly to both the... [read more]

I am not sure about the current statistics, but last year Bank of Canada warned that real estate may be overvalued by as much as 30 per cent. Exactly one year later, I wonder how much it's overvalued now? No word yet from the Bank of Canada, I am sure they have a difficulty to estimate the market. More than that, I believe that no one could understand what had just happened to Toronto real estate market. And now this, from all places, Richmond Hill takes the crown. It’s a fact... [read more]