Tag Archive | "mortgages"

Orphan Mortgages in Canada


Mortgages are not that simple.They can be lot more complicated depending upon the lenders,the borrowers and the terms.Even though mortgage industry is heavily regulated and guarded to protect the Real Estate Investors and property owners.There are several key components to each mortgage.Most of Real Estate investors have very little knowledge about it.Majority of Real estate investors assume and presume,that is where they fall into cracks and suffer huge losses.

Orphan Mortgages can be red flag for lot of real estate investors.There are mainly three ways how a mortgage can become orphan.

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Municipal Tax Sales in British Columbia (B.C.)


Failure to pay municipal property taxes for over three consecutive years results in a property being placed for tax sale in British Columbia. This can be an excellent opportunity for Canadian real estate investors, once they understand the local Government Act. This Act gives the collector the authority to sell a property for the upset price. The upset price is the total of all outstanding taxes plus interest, 5% of tax sale costs, and the Land Titles office fees.

There are some differences among various municipalities in the province of British Columbia, but the majority of them have similar rules. The rural areas have different tax sale rules as does the city of Vancouver, which has its own charter and rules. You can obtain more information from the surveyor of taxes.

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