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You are here: Home / Solutions / Yes, You CAN STOP Foreclosure

Yes, You CAN STOP Foreclosure

Let’s Talk About the Elephant in the Room

Perhaps you just lost your job or second income making it difficult to keep up with payments. Maybe you recently suffered an illness, or found out that your home needs an excessive amount of maintenance that you just cannot afford. Whatever the reason your behind on your payments, we are confident we can help. You can actually stop foreclosure proceedings by leveraging your home equity with a new mortgage loan. Therefore Saving Your Home and your Credit Score too

With a loan from The Money Depot, we can help you get back on your feet again. Our friendly professionals will be with you along this difficult path, and will ensure you have the proper knowledge that can turn your situation around.

  • Don’t lose your home – feel financially secure
  • Get the debt collectors off your back
  • Simple application process – apply today and get approved
  • Stop feeling embarrassed or awkward about your situation
  • Feel safe knowing that your financial future is in the right hands

100% Canadian Owned AMBA RECA CAAMP AREA

You Are More than Your Credit Score

How to Use Your Home to Avoid Foreclosure

Foreclosure is no laughing matter. If you’re facing the possibility of foreclosure you need to first know that there IS help, and it IS possible to avoid foreclosure, but you have to take decisive and swift action. The Money Depot was founded on the belief that Canadians should have access to the credit they need, not what the bank thinks you deserve.

There are a number of solutions available to you to help you avoid foreclosure. Your situation is unique and there are no cookie-cutter approaches to avoiding foreclosure, so it is best if we speak sooner than later. Give us a call, we don’t judge, we are discreet and patient. We work with you to help craft a solution based on your particular needs.

Most of the solutions available to avoiding foreclosure require that you have some equity in your home or access to credit. We answer the question “What Is Home Equity?” in the next section on this page. Access to credit means that you still have a decent credit score, and a job. If that is true, you will generally have access to credit and we can help you find a solution.

Some might say that it’s not a big deal to let your home be foreclosed on, or to declare bankruptcy, but believe us, that is a short term gain that comes with a lot of long term pain. So what are the reasons you should avoid foreclosure and protect your credit?

If you don’t;
– You could have difficulty passing background checks for future employment.
– You could have trouble finding housing that will rent to you.
– Your ability to purchase larger ticket items, such as vehicles, will be near impossible or at a very high interest rate.
– Even though “bad credit” stays on your official credit score for only 7 years, the pain is felt for a much longer time than that.

What Is Home Equity and How Do I Access It?

Your financing comes from your home’s equity. Your home equity is simply the amount you owe on your mortgage subtracted from your home value. This amount gets larger with each mortgage payment that you make. For instance, if your home is currently worth $500,000, and you have $150,000 left to pay back on your mortgage, then your home equity would be $350,000. As you decrease your mortgage debt, you increase your equity. Keep in mind that housing costs are also rising, which positively affects your equity.

You can access your home equity three ways: refinance your mortgage, take out a second mortgage, or get a home equity line of credit (HELOC). You can find out more about these financial products here.

Why Use The Money Depot?


The Money Depot has been Canada’s go-to source for loans since 2009 and we have been in the business of lending money to Canadians since 1999. We work with dozens lenders across the country to help take the stress out of refinancing, and getting access to affordable loans by allowing consumers to get multiple offers from several lenders in a matter of minutes. We get Lenders competing for your business. If you’re tired of hearing no from the banks then get in touch with us! We say “Yes” more often

At The Money Depot, we care about our clients and treat you like individuals. We realize that everyone’s financial circumstances are unique, and we get to know each and every one of them. You are not just a name on a piece of paper, or a number at a bank; you are a person.

Our loans are short-term solutions to your financial needs, we will work with you to ensure you have a long-term plan. With a loan from The Money Depot, you will be able to address your current issues while you work to improve you credit score, increase your income, and find a more permanent solution. We know what you are going through and are here to help you get on with your life. No need to be embarrassed or feel awkward; you are not the only one that has ever been in this situation. Kick the elephant to the curb and call us for a free consultation today.


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