{"id":5624,"date":"2025-09-19T09:17:21","date_gmt":"2025-09-19T14:17:21","guid":{"rendered":"https:\/\/solutionshypotheques.ca\/?p=5624"},"modified":"2026-04-06T18:12:11","modified_gmt":"2026-04-06T23:12:11","slug":"60-day-notice-late-on-mortgage-payments-robert-stacey","status":"publish","type":"post","link":"https:\/\/solutionshypotheques.ca\/en\/case-studies\/60-day-notice-late-on-mortgage-payments-robert-stacey\/","title":{"rendered":"60-day notice\/ late on mortgage payments Robert & Stacey"},"content":{"rendered":"\t\t
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Robert\u00a0is a firm believer\u00a0that\u00a0the early bird gets the worm!\u00a0he puts in many hours\u00a0at work and makes sure his family\u00a0does not\u00a0lack for anything.\u00a0\u00a0Robert\u00a0is a general contractor and things are going quite well for him. His wife\u00a0Stacey\u00a0is\u00a0a personal support worker\u00a0and a devoted mother\u00a0of two\u00a0young daughters,\u00a0aged 7 and 9 years old.<\/span>\u00a0<\/span><\/p>

As luck should have it,\u00a0Robert\u00a0gets lucky!\u00a0happens\u00a0on two very juicy contracts that will be more then worth his while.\u00a0Unfortunately, after working countless hours on them and hiring his crew to execute the work, the contracts do not pan out and the companies he had the contracts with both\u00a0go\u00a0bankrupt\u2026\u00a0<\/span>\u00a0<\/span><\/p>

Robert\u00a0is in a\u00a0jam;\u00a0he\u00a0must\u00a0pay his workers\u00a0and\u00a0for some pre-ordered materials\u00a0for the job. His\u00a0budget\u00a0is\u00a0completely out of balance… He is a proud\u00a0man,\u00a0and he\u00a0does not talk about it to his wife, not wanting to worry her. He decides to skip a mortgage payment or\u00a0two,\u00a0just\u00a0the time to get some other contracts going and put everything back\u00a0on track\u2026<\/span>\u00a0<\/span><\/p>

But\u00a0when it rains it pours\u2026 He\u00a0unexpectedly\u00a0hits a\u00a0dry spell\u00a0and\u00a0cannot\u00a0seem to get any contracts. He is\u00a0losing\u00a0sleep thinking over his situation and trying to figure something out. He keeps\u00a0up\u00a0a confident fa\u00e7ade but deep down he has never felt so out of control in his life.<\/span>\u00a0<\/span><\/p>

It is\u00a0Stacey\u2019s\u00a0birthday,\u00a0and he has planned to get her a wonderful gift to show her how much he loves her. He arrives home anticipating her usual\u00a0beautiful\u00a0smile waiting for him at the door.\u00a0When she opens the door, she has tears in her eyes. Somebody else came today to give her a gift\u2026 The bailiff with a\u00a0<\/span>60-Day\u00a0Notice<\/span><\/b>! This is not what\u00a0Stacey\u00a0had in mind for her birthday\u2026<\/span>\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Here are the details of Robert and Stacey\u2019s financial situation:<\/span>\u00a0<\/span><\/p>

  • 310 000$ is the\u00a0value of their home.<\/span>\u00a0<\/span><\/li>
  • 230 000$ is the amount owed to their bank.<\/span>\u00a0<\/span><\/li>
  • 6 000$ is the amount owed in mortgage arrears.<\/span>\u00a0<\/span><\/li>
  • 10 000$ in combined personal debts<\/span>\u00a0<\/span><\/li>
  • 246 000$ is the total amount required to get the situation under control.<\/span>\u00a0<\/span><\/li><\/ul>

    246 000$ \/ 310 000$ x 100 = 80%\u00a0loan to value on the home.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>

    The right Solution:\u00a0Lease-Buyback\u00a0to stop a\u00a060-Day\u00a0Notice.<\/span><\/b>\u00a0<\/span><\/p>

    Lease-Buyback is an alternative financing solution which consists\u00a0of:\u00a0(a) transferring the property temporarily to one of our designated investors,\u00a0(b)\u00a0leasing it for a term of 2 to 5 years and then\u00a0(c)\u00a0transferring it back to you at a fixed priced. During the lease period you follow a credit repair program to make sure that your credit is re-established and that you can buy-back your property without a hitch.\u00a0<\/span>\u00a0<\/span><\/p>

    You sign a lease-buyback contract\u00a0that\u00a0gives you the\u00a0<\/span>exclusive\u00a0option<\/span>\u00a0to buy-back the property.\u00a0Also,\u00a0since the lease-buyback price is fixed at the beginning of the term,\u00a0there are no surprises and\u00a0you\u00a0get to keep any\u00a0appreciation above that price, if your property is worth more!\u00a0Example: lease-buyback price is set at 335 000$ and property is worth 345 000$. The extra 10 000$ is yours to keep!<\/span>\u00a0<\/span><\/p>

    Why\u00a0did we go with a Lease-buyback\u00a0for a 60-Day Notice\u00a0instead of a private loan?\u00a0<\/span><\/b>\u00a0<\/span><\/p>

    The private loan is not\u00a0viable\u00a0solution\u00a0for two main reasons:\u00a0<\/span>\u00a0<\/span><\/p>

    • Robert\u00a0&\u00a0Stacey\u2019s\u00a0debt level and loan payments would be too expensive\u00a0for them to sustain.\u00a0<\/span>\u00a0<\/span><\/li>
    • Private lenders will usually limit their loans at 75% of the value of the property.\u00a0<\/span>\u00a0<\/span><\/li><\/ul>

      In\u00a0our current\u00a0situation, a private loan\u00a0at\u00a075% of the value\u00a0of the property\u00a0would\u00a0simply not\u00a0be\u00a0enough to pay off all of\u00a0Robert\u00a0and\u00a0Stacey\u2019s debts. Also, a private loan would be more expensive than the lease buy-back option.\u00a0they would be\u00a0looking at a 12% interest-only payment with the private lender!<\/span>\u00a0<\/span><\/p>

      With\u00a0the lease-buyback program, the payment is\u00a0comprised of\u00a0a\u00a0rate of\u00a05.99% +\u00a0taxes\u00a0+\u00a0home insurance,\u00a0with\u00a0a minimum\u00a0monthly\u00a0lease\u00a0credit\u00a0of\u00a0$100\u00a0per month. This is comparative to a traditional mortgage where you have a portion of the payment going towards the principal and the other going to interest, the lease-buyback program offers you a minimum of at least\u00a0$100\u00a0per month\u00a0that gets applied against your future buyback price!\u00a0<\/span>\u00a0<\/span><\/p>

      What it looks like in numbers:<\/span>\u00a0<\/span><\/p>

      • Lease buy-back:<\/span><\/b>\u00a0$2,035\u00a0per month\u00a0(including\u00a0property taxes and home insurance) with an additional\u00a0$100\u00a0per month\u00a0as lease credits for the next 36 months.<\/span>\u00a0<\/span><\/li>
      • Lease credits would add up to between\u00a0$3,600 to\u00a0$6,000 over the length of the term (3 to 5 years)<\/span>\u00a0<\/span><\/li><\/ul>

        VS<\/span><\/b>\u00a0<\/span><\/p>

        • Private loan:<\/span><\/b>\u00a0$2,920\u00a0per month\u00a0in mortgage payments, you need to pay your city taxes, school taxes and home insurance\u00a0on top of this payment.<\/span>\u00a0<\/span><\/li>
        • $0<\/span><\/b>\u00a0from your monthly payments get applied your mortgage balance.<\/span>\u00a0<\/span><\/li><\/ul>

          Benefits\u00a0of a\u00a0lease-buyback solution for a 60-Day Notice:<\/span><\/b>\u00a0<\/span><\/p>

          • All creditors are paid,\u00a0<\/span>\u00a0<\/span><\/li><\/ul>
            • Debt consolidation without making a proposal to the consumer,\u00a0<\/span>\u00a0<\/span><\/li>
            • Reduced monthly payments,<\/span>\u00a0<\/span><\/li>
            • Keep\u00a0their home,\u00a0<\/span>\u00a0<\/span><\/li>
            • We offer support for their\u00a0credit repair with the\u00a0CCBU (Canadian Credit Bureau)\u00a0over the term,<\/span>\u00a0<\/span><\/li>
            • Buyback\u00a0price of\u00a0the house\u00a0is fixed, thus\u00a0even if the value of the building exceeds the price of the agreement,\u00a0Robert\u00a0and\u00a0Stacey\u00a0buy it back below market value!\u00a0<\/span>\u00a0<\/span><\/li><\/ul>
              • Monthly payments\u00a0are\u00a0lower than a private lender, which\u00a0translates into\u00a0more liquidity in\u00a0their\u00a0pockets for savings\u00a0and a safety fund.<\/span>\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

                Robert\u00a0is a firm believer\u00a0that\u00a0the early bird gets the worm!\u00a0he puts in many hours\u00a0at work and makes sure his family\u00a0does not\u00a0lack …<\/span><\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[76],"tags":[],"class_list":["post-5624","post","type-post","status-publish","format-standard","hentry","category-case-studies"],"acf":[],"yoast_head":"\nCase Study: 60-Day Notice on Late Mortgage Payments | Solutions Hypotheques<\/title>\n<meta name=\"description\" content=\"Case study: avoid foreclosure after a 60-day notice with alternative mortgage solutions. 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