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Difference between revisions of "Mortgages and Financing a Home Purchase"
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Mortgages and Financing a Home Purchase (view source)
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Drew Jackson (talk | contribs) m (Drew Jackson moved page Mortgages and Financing a House Purchase (Script 408) to Mortgages and Financing a Home Purchase (No. 408): align with new Dial-A-Law website) |
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{{ | {{REVIEWEDPLS | reviewer = [https://www.ganapathico.com/our-team/nathan-ganapathi/ Nathan Ganapathi] and [https://www.ganapathico.com/our-team/anna-kurt/ Anna Kurt], Ganapathi Law Group|date= October 2017}} {{Dial-A-Law TOC|expanded = home}} | ||
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Almost everyone who buys a home borrows money to pay for it. Doing so involves giving the lender a “charge” against the home. Learn what’s involved in getting a mortgage. | Almost everyone who buys a home borrows money to pay for it. Doing so involves giving the lender a “charge” against the home. Learn what’s involved in getting a mortgage. | ||
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===If you default on your mortgage=== | ===If you default on your mortgage=== | ||
If you default on your mortgage, the lender can go to court to take the property or sell it to pay the mortgage debt. This process is called '''foreclosure'''. In a foreclosure, the lender cares about getting its money back. They don’t care about getting fair market value for the property or what might be left over for you. It’s important to take quick action if you’re having difficulties paying your mortgage. See our information on [[Foreclosure ( | If you default on your mortgage, the lender can go to court to take the property or sell it to pay the mortgage debt. This process is called '''foreclosure'''. In a foreclosure, the lender cares about getting its money back. They don’t care about getting fair market value for the property or what might be left over for you. It’s important to take quick action if you’re having difficulties paying your mortgage. See our information on [[Foreclosure (No. 415)|foreclosure (no. 415)]]. | ||
===When you get a mortgage, you sign a mortgage contract=== | ===When you get a mortgage, you sign a mortgage contract=== | ||
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:Web: [https://www.recbc.ca/buyinghome-2.html recbc.ca] | :Web: [https://www.recbc.ca/buyinghome-2.html recbc.ca] | ||
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