Property Tax and CRA Arrears
You may still have options.
Property Tax and CRA Tax Arrears can be paid out with a private mortgage refinance.
HERE IS AN EXAMPLE OF A TAX ARREARS PROBLEM WE SOLVED...
Property Tax & CRA Tax Arrears
Property Value: $550,000
Outstanding Debts:
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Existing Mortgage: $300,000
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Overdue Property Taxes: $22,000
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CRA Income Tax Debt: $35,000
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Tax Sale Costs & Penalties: $8,000
Total Debt: $365,000
The Problem
The homeowner has fallen behind on property taxes, and their home has entered the tax sale process.
They also owe $35,000 to CRA.
Their bank has declined to refinance.
The Potential Solution
Using the equity in their home, we could potentially arrange a private mortgage to pay off the existing mortgage, clear the outstanding property taxes and CRA debt, and resolve the tax sale situation.
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New Private Mortgage: $372,449
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Interest Rate: 9.75%
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Brokerage Fee: 2% (included)
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Loan-to-Value: Approximately 68%
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New Monthly Payment: $3,026
The homeowner could potentially resolve their outstanding tax obligations, protect their home and begin rebuilding their financial position.
Protect Your Home. Clear Your Tax Debt. Move Forward.
Call Chris: 204-999-2194
Hypothetical example. Payment is interest-only and does not reduce principal. Additional lender fees, legal costs, mortgage penalties and ongoing property taxes are excluded. Financing is subject to lender approval, sufficient equity, title requirements and applicable tax sale deadlines. A private mortgage does not guarantee that a tax sale can be stopped or a property redeemed.
