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Calgary Foreclosure Lawyers

Calgary foreclosure lawyers are the men and women of Calgary’s legal community who handle the foreclosure cases in the Judicial District of Calgary, Alberta. 

When a bank stops receiving payments on a mortgage and other collection efforts have failed, they will commence a foreclosure action. 

Similarly, if a bank stops receiving payments on a 2nd mortgage or a home equity loan or a line of credit secured by property and other collection efforts have failed, they will commence a foreclosure action. 

It is important to obtain legal advice from a foreclosure lawyer if you find yourself in such a situation.

In Alberta, most mortgages or other loan documentation gets registered against the title to the property.  The title, typically, is in the name of the owner/borrower.  A foreclosure action is commenced by the creditor (bank) filing a filing Statement of Claim in the Court of Queen’s Bench of Alberta.  The foreclosure Rules are contained in the Alberta Rules of Court.  The Rules of Court are complex and detailed and are probably best left to the lawyers. 

Typically the relief sought in a foreclosure Statement of Claim will include:

• A declaration as to the amount owing under the mortgage, complete with interest,
• In default of payment and order for foreclosure and sale of the property, or possession,
• Appointment of a Receiver,
• A shortening of the redemption period,
• Court costs, usually on a solicitor/client basis.

The Statement of Claim gets served upon the debtor or owner of the property who then has just 15 days to file a Statement of Defence. 

Thereafter the creditor’s lawyer will typically set a court date in order to make an application for an Order Nisi/Order for Sale.  They will prepare an affidavit in support of this application and it is important to obtain a copy of this.  Same with any other affidavits (such as an affidavit of value) that the creditors lawyer may be going to use.

From there it is really up to the Master (Judge) in Chambers to decide on what to do with the property.  It is very important to not just ignore a Statement of Claim for foreclosure and to get involved in the process right from the start - even if you do not have any money to make any payments. 

Meeting with a lawyer immediately upon getting served with a Statement of Claim for foreclosure should be done in every case.  They can often make a real difference in what happens to you and to your property.

If an order for sale is made by the Master then the property will be advertised for sale, or a realtor appointed, as the case may be and eventually the property sold and the creditor paid back – often with interest and all the “costs” of the foreclosure as well.  If the proceeds from the sale result in a shortfall, then it depends on the situation whether the creditor can, or cannot, obtain a judgment against you for any money they may be short.  Here too a lawyer can be invaluable.

In foreclosure actions there is a concept known as the “right of redemption”.  This right gives the debtor/owner considerable rights at all stages of the proceedings to make good on the funds owing and to stop the foreclosure in it’s tracks if they do so.

Calgary foreclosure lawyers must be registered and in good standing with the Law Society of Alberta. Many Calgary foreclosure lawyers also belong to the Foreclosure Law subsection of the Alberta branch of the Canadian Bar Association.

At all points of the foreclosure process, experienced counsel can really make a difference. 

We are that counsel for a lawyer referral.  We are that law firm referral company.  We are your Calgary Foreclosure Lawyers referral company.

Free Lawyer Referral Service - Call (403) 770-9714.