ABFS Consulting Advice & News Blog

Finding Foreclosure Guidance

Sandy recently called our office desperate for some guidance. She told us her husband passed away three years prior and she was left with 5 children to support. She moved back to northern Alberta to be closer to her immediate family but decided to keep her...

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Why Bankruptcy Does NOT Stop Foreclosures In Canada

When facing a foreclosure, some will advise proceeding with filing for bankruptcy. However, you need to know that simply filing for bankruptcy will not stop nor remedy a foreclosure in Canada. This is because personal bankruptcy in Canada does not involve nor include...

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Overcoming Deficiency Judgements

One of the most worrisome aspects of a foreclosure is the risk of a hefty deficiency judgment being handed down after a home has been already foreclosed on. What this means is that if the lender is successful in foreclosing on the property, and the value that they...

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What does it mean if your mortgage is CMHC Insured?

The Canada Mortgage and Housing Corporation (CMHC) is a quasi-government organization that is responsible for insuring a large portion of high-ratio mortgage loans outstanding in Canada (around $500 billion worth). There are also two other private mortgage insurers in...

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Foreclosure and Your Credit Score

In a foreclosure, not only can you lose your home, but your credit rating can also be affected. The extent to which your beacon score will drop includes a number of variables. These variables include who the lender is, how much you have owing, whether your mortgage is...

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Help! I’m facing foreclosure! What do I do now?!

Facing the very real possibility of losing your home to foreclosure is a scary and daunting proposition. As much as we all hope to never find ourselves in this position, the reality is that it happens every day to people of all backgrounds, income levels and age...

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What Our Clients Are Saying

"Your service is assuring and direct right from my initial contact. I knew right away that I was not dealing with a fly-by-night outfit. I was impressed with how involved the members of the team are in the business. You are a comfort to those whose hope has diminished, and I will definitely mention the important role you played in my marriage and my life. Thank you, God Bless."
Davis, Greater Edmonton Area

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