ABFS Consulting Advice & News Blog
Be careful when paying only a portion of your arrears
Stopping a foreclosure involves much more than just throwing money at the problem. Knowing who to pay, how much to pay, and when to pay are three important questions to consider. We have seen it happen far too many times where a person facing foreclosure panics and...
Why You Should NEVER Cancel Your Home Insurance
We have noticed a trend lately with more people allowing their home insurance to lapse when faced with financial hardship. It seems like a logical choice to make. If you are having a tough time putting food on the table then you need to cut costs somewhere - and a...
The Effects of Foreclosure in Alberta
Many people contact us to ask what happens after a foreclosure is approved through the court. Depending on the individual circumstances of the foreclosure, there are a number of things that can result including: A negative impact on a credit report for up to 8...
How Does A Foreclosure Affect 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...
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...
How Much Does a Foreclosure Cost
A foreclosure can very quickly become expensive. Many people who do not take decisive action end up losing their homes because they simply cannot afford to cover the legal costs of a foreclosure. We have outlined below some of the legal costs one can expect to incur...
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