In the unfortunate circumstance that a homeowner is past-due on their monthly mortgage payments, they pave the way for a “foreclosure” on their property. In today’s market, banks and other lenders do not turn to foreclosure to take away the homes of homeowners who are in arrears. Instead, they perform a "Power of Sale" which is wholly different from a Foreclosure. What is a Foreclosure? Foreclosures are laborious, grueling, and costly to both the... [read more]

The Bank of Canada has decided to maintain its policy rate at five per cent for the fourth consecutive meeting. In a significant shift, the bank explicitly stated that there won't be a need for further increases if the economy aligns with its forecasts. Governor Tiff Macklem and other policymakers opted for this expected pause, citing data indicating a stalled economic growth that is expected to remain slow in the near term. The objective is to bring inflation back to the bank's... [read more]