Losing a home to foreclosure is a devastating and challenging situation for anyone. If you live in Alberta, understanding the foreclosure process beforehand can help you find a mortgage loan for foreclosure to save your home.

Dealing with challenging financial situations sometimes requires the intervention of authorized parties, such as trustees. If you’re struggling with debt, you may decide to enter into a consumer proposal with a trustee.
Declaring bankruptcy is a huge blow to your financial situation and credit report. Fortunately, it's possible to recover from bankruptcy and regain your financial discipline. Lenders scrutinize credit reports and place strict measures on anyone who's declared bankrupt.
Foreclosure happens when you fail to pay your mortgage for a period of time, and your lender repossesses your home and tries to sell it.
Life can sometimes be unpredictable. One minute you’re living your dream life, and the next minute you can barely make ends meet.
Financial trouble can hit anyone at any time, and an unstable economy does us no favours. There may be a time in your life when you need to consider a consumer proposal.
If you get more than three months behind on your mortgage, often the bank will begin the foreclosure process, where they take possession of your home and sell it.
If you are drowning in a lot debt, you could consider entering a consumer proposal with a bankruptcy trustee. A consumer proposal offers an alternative payment plan to make monthly payments more affordable and you are still paying back money to your creditors.
Filing for a bankruptcy in Alberta is a tough decision. It hurts your credit rating considerably, but that's not the end of it.
A home is probably the most substantial investment that you’ll ever make. For most people, mortgage payments take the largest portion of their monthly income.