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Can a mortgae company not renew a mortgage

 
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Vote:
Asked by
Buford


Can a mortgae company not renew a mortgage?
0     In Mortgage Cont.02

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    Q. What happens to house if mortgage company does not renew?


    Can you explain why they will not renew? If they closed, another company would take over administering the mortgages and you will just renew it.

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    Q. What happens if mortgage company does not want renw mortgage anymore you do not have money to pay for the remaining mortgage?


    Ontario Canada, there must be a reason why they do not want to renew it. Are you in default ? What circumstances do you have that made the lender reject your renewal. Could it be that what you owe is higher than what the value of the property is ? If you can tell me the reason, I may be able to give you a more definite course of action - email me victor_catalan@centum.ca

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