Paying prior mortgage arrears: Risks versus Rewards
As legal counsel to mortgage lenders, we are frequently asked by second or third mortgage lenders whether they should pay the arrears on a prior mortgage that is in default. Fundamentally, this is a business decision, not a legal one, but there are several factors that a mortgage lender should consider when making this decision. […]
Super Priority Lien Coverage – FCT
As always, Hendrix Law is working to protect our lenders from claims made by government authorities, namely, Revenue Canada, when exercising their super priority, now even over a discharged mortgage. This coverage will be added to all residential and commercial lending policies by our office. Extended Super Priority Lien Coverage_1-pager_ROC_EN_Final
Priorities under the Seniors’ Property Tax Deferral Act and the Seniors’ Home Adaptation and Repair Act
Seniors Home Adaptation & Repair ActSeniors’ Property Tax Deferral ActSeniors’ Property Tax Deferral Act Seniors Home Adaptation & Repair ActBoth of these pieces of legislation provide assistance for Seniors who either can not pay their property taxes as they become due and payable or require assistance to cover the costs of repairs, renovations or adaptations […]
A Summary of Foreclosure Steps in Alberta
Whether you are being foreclosed or are a new Lender wondering what the process is in Alberta, click on the attached link and you will see a description, summary and timeline (in general) for each step taken in a foreclosure action. As always, if you have any questions, please don’t hesitate to contact dhendrix@hendrixlaw.ca Alberta […]