At Davidzon Law we are called on by mortgage lender clients who are dealing with borrowers in default of their obligations. When taking steps to enforce a mortgage there are different approaches that can be selected, mostly commonly being either foreclosure or power of sale. Depending on the option selected by the lender, the outcomes can have significantly different implications for the client. For this reason, we feel it is a very important first step to discuss with our clients what they are hoping to achieve as a result of the mortgage enforcement. Sometimes the client is more interested in obtaining registered title to the mortgaged property while other times the client wants nothing more than to get their investment returned and walk away. By taking the time to understand our client’s goals and intentions, we assist them in selecting the appropriate enforcement route that best meets their needs. Once the mortgage enforcement option is selected we will communicate with the borrower or their solicitors to try and resolve the default failing which we will take the appropriate steps to take control of the property and either transfer it to the lender or sell it to recoup the outstanding debt.
Davidzon Law real estate law team are well versed in all aspects of commercial real estate law in Ontario and have years of experience acting on behalf of our clients to achieve their goals. We regularly work together with mortgage brokers and mortgage lenders to ensure that our clients’ interests are advanced and promoted. We understand that our client’s livelihoods are tied into their commercial real estate investments and we are proud to represent them. If you would like to discuss a mortgage enforcement matter with a lawyer at Davidzon Law, please call us today to schedule a consultation.