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Debra, Lawyer
Category: Canada Law
Satisfied Customers: 99927
Experience:  Lawyer
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In a case of foreclosure, if the mortgagee is absolutely

Customer Question

In a case of foreclosure, if the mortgagee is absolutely refusing to accept monies as a result of a redemption order, and does almost anything to try and collapse a redemption period in their favor (like withholding disclosure or orders finance institutions need), what legal remedies or case law suggest if this act is a 'clog' from being legally able to redeem a property? Surely, a mortgagee cannot be allowed to acquiesce like this.
The mortgagee, we have found, has sold properties, that do not quality under the National Housing Act, nor backed by CHMC, and we don't know now who 'holds' the paper, nor will the original mortgagee, who launch foreclosure proceedings, tell us.
Very frustrating situation with a private lender whom has been instructed by their shareholders to sell the farm; their response is foreclose their entire portfolio.
Submitted: 1 year ago.
Category: Canada Law
Expert:  Debra replied 1 year ago.

During the redemption period the owner has an absolute right to pay back the full mortgage and regain the property.

If this is not being permitted then the owner must return to court on an urgent basis.

Does that help as a starting point?

Customer: replied 1 year ago.
That has occurred but the bank refuses to take the money as the property is worth twice the court ordered redemption amount. And oddly the court is allowing it. Isn't there a ststutor right to redemption? What remedies does a mortgagor have against a mortgagee that does everything to not get paid?
Expert:  Debra replied 1 year ago.

What do you mean the court is allowing it?

Are you able to pay back all that is owing?

Customer: replied 1 year ago.
The court has allowed the property to be judicially listed even when a mortgage approval was obtained to replace the bank. The bank actually refused to talk to anyone to take the payment.
Expert:  Debra replied 1 year ago.

I don't know what that happened. I suggest you go back to court and state you are prepared to immediately pay off the full debt and you are not being afforded your right to redeem.

Customer: replied 1 year ago.
We did that and were told we had to 'convince the bank'? Huh? So we appealed to a higher court as I was informed by another lawyer this is an intentional act to clog and interfere the equity of redemption.
Expert:  Debra replied 1 year ago.

What did the higher court say?

And regardless of what they said you need a lawyer to go to court and then you won't be bullied and ignored.

Customer: replied 1 year ago.
The appeal won't be heard for two months. And yes my team of lawyers will kick in now. What a gong show.
Expert:  Debra replied 1 year ago.

I am actually disgusted by what is happening to you.

You are the little person and the court is letting the big entity, that must be there all the time, with the same lawyer, manipulate the situation and worse, the law.

Please do let me know what happens. I am hoping the bank will just give in before the appeal is heard.

Customer: replied 1 year ago.
Thanks for the support. And I just finished law school and seem to know my rights better than the judge. The bank even refused questioning so we could find out the real numbers. They have a lot of shady deals going on (private lender) like selling the mortgage withoit my knowledge to another private lender as a mortgage backed security and they aren't even an CHMC approved lender to protect the investors. Its a massive mess.....but yes I will keep you apprised.
Expert:  Debra replied 1 year ago.

Well, good for you and they now better look out!

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