When you fall behind on your mortgage payments, you face the possibility of foreclosure. In Alberta, the foreclosure process is a judicial process, in which the lender has to go to court and file a foreclosure lawsuit. You have the opportunity to fight a foreclosure in court. This can stall the process to allow you more time or prevent the foreclosure. DARK HORSE CAN YOU HELP WITH THAT FIGHT!

Dark Horse, through its in house legal counsel, will help defend homeowners against foreclosure. Our lawyer has over 20 years of litigation experience and he has acted for Banks as well as homeowners, so he knows both ends of the game. We will work with you to devise the best strategy for you to keep your home.

THE COST: Of course we realize that you are struggling to pay your debts, that is shown by the threat of foreclosure on your house. We will require an upfront payment of $750.00. Those moneys will be held in trust by our legal counsel (i.e. they won’t be used until the service is provided). So you do not need to worry about being scammed out of your hard earned cash. The rules of Law Society of Alberta do not allow that. The Service will be deemed to have been provided if we are able to get you 6 months or more time in oyur house. IF WE DO NOT GET YOU 6 MONTHS IN YOUR HOUSE YOU GET THE $750 BACK. We are not here to take your hard earned money—if we get this result, we get paid, otherwise you need the money back and you get it back!

The Foreclosure Process
The foreclosure process in Alberta is fairly straightforward and occurs in this order:​

• The homeowner fails to make mortgage payments.
• The lender sends a notice informing the homeowner that it intends to begin foreclosure proceedings.
• The lender files a foreclosure lawsuit.
• The homeowner is served with notice of the lawsuit.
• The homeowner has the opportunity to file a response/defence to the lawsuit.
• A judge enters a judgment of foreclosure which allows the property to be sold at auction.
• A listing for the sale the house (or other sales process occurs).
• The judge approves the sale in a court proceeding where a deficiency judgment may be entered allowing the lender to pursue you for the shortfall (in some cases the Bank cannot pursue you for the shortfall).
• The homeowner is evicted from the house.

Foreclosure Defense Strategies
Determining the best way to defend foreclosure requires an examination of your financial circumstances and the terms of your home loan. In most cases we will focus of your “redemption rights”. Essentially these “redemption rights” are a period of time we can ask from the court for an order allowing you to “redeem” the mortgage. Essentially that means bring the mortgage into good standing or replace the mortgage with another mortgage. We like to refer to it as a “Time-out” which allows us together to find a solution. That solution maybe using the Dark Horse connections finding a replacement lender or even ren-gotiating the loan with the current lender.

WE ARE NOT INTIMADETED BY BANKS! We have seen various conduct by banks/lenders which is not proper. Often it appears the appraisals of your home may be lower than the true value. By permitting that, the bank is able to get a quicker foreclosure. We will focus on that, and if necessary we may even obtain a competing appraisal of your home. WE ARE PREPARED TO FIGHT THE BANK

WE ARE HERE TO HELP YOU TO GET BACK ON YOUR FEET. We recognice that the circumstances of today, you be behind, a little breathing time is all you need to get back on your financial feet.

If you are facing foreclosure or the possibility of foreclosure CONTACT US to schedule a free phone consultation to discuss your options. We will work with you to develop an effective foreclosure defense and help you through this challenging time.