ABFS Consulting Advice & News Blog

Dealing with Debt

We have all experienced tough financial times at one point in our lives. Being a student, job changes, unemployment, marriage, kids, divorce, health issues, moving, looking after family members in sickness and so forth can all have a negative impact on our finances....

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Submitting a successful proposal to the bank

Many of our clients first come to us frustrated after having their payment plan rejected by the lender's lawyer. The key to getting a bank to agree to a payment plan for mortgage arrears is to know exactly what the bank is looking for. There are only certain terms and...

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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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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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