What Documents Will I Need?
If you're facing a Power of Sale, you do not need to have a perfect document package before contacting us. Start with the Notice of Sale and whatever current mortgage information you have. We can identify what is missing and tell you exactly what we need next.
← Back to Power of Sale QuestionsStart With the Documents That Tell Us What Is Happening Right Now.
The first priority is establishing the enforcement timeline, the amount owing against the property and the available equity. Once we understand those pieces, we can tell you which additional documents are required for the financing itself.
Notice of Sale
Send us the Notice of Sale and any other letters or legal documents you have received from the lender or its lawyer.
Current Mortgage Statement
A recent mortgage statement helps confirm the lender, current balance, payment information and basic details of the mortgage.
Other Mortgage Statements
If there is a second mortgage, private mortgage or other financing registered against the property, we need the current information for those debts as well.
Property Tax Statement
We need to confirm the current property taxes and whether any tax arrears also have to be dealt with as part of the financing.
Identification
Government-issued identification will be required as part of the mortgage application and lender verification process.
Income Information
Depending on the lender, we may need employment, pension, self-employed or other income documents to support the mortgage application.
Send Us the Notice of Sale First.
The Notice of Sale tells us that formal enforcement has started and gives us important information about the lender's claim and the timeline.
If you have received additional letters from the lender's lawyer or any other legal documents, send those as well. We would rather see the complete enforcement history than have you decide which documents matter.
Send the complete document, including every page.
Include letters, demands and other correspondence received from the lender's lawyer.
Send the most recent statements you have for every mortgage registered against the property.
If something is missing, send what you have and we will tell you what still needs to be collected.
Additional Documents Depend on the Lender and the Solution.
Once we know that refinancing may be realistic, we can complete the mortgage application and collect the supporting documents required for the lender that best fits the file.
Mortgage Application
The application provides the borrower, property, income, asset and debt information required to structure and submit the financing request.
Income Documents
The exact documents depend on how you earn your income and which type of lender is being considered.
Current Appraisal
A current appraisal is normally required. An older appraisal may not be acceptable for the new financing, so a new appraisal may need to be ordered specifically for the file.
Current Payout Information
As the file progresses, current payout figures may be required to confirm exactly how much financing is needed to resolve the existing debt.
Information About Other Debts
Judgments, liens, CRA debt or other obligations that affect the property or financing need to be identified so the lender sees the complete picture.
Additional Lender Requirements
Every file is different. Once a lender reviews the application, additional supporting documents may be requested before final approval and closing.
Do Not Delay Contacting Us Because You Are Missing a Document.
If you are facing a Power of Sale, send us the Notice of Sale and whatever mortgage information you have first. We can determine what is missing, prioritize what matters and tell you exactly what needs to be collected next.
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