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Increase of seizures of real-estate property

Increase of seizures of real-estate property

The number of seizures of real-estate property continued its progression in Quebec, last month.

 

In February, 265 owners yielded the keys of their house to their mortgage lender, which represents a rise of 39% compared to February of 2009.

 

It is, however, a reduction if one compares these data with those of January, when more than 330 properties were seized. The first month of 2010 marked a top since the outbreak of the economic crisis.

 

On the other hand, the situation does definitively not improve on the side of the mortgage notices.

 

Last month, 937 notices of seizure were sent by mortgage lenders, which represents an increase of 8,45% compared to the same month in 2009.

 

It is also an increase compared to last January, when 742 notices were transmitted to the owners.

 

It is in March of 2009 that Quebec knew its worst month concerning mortgage notices since the beginning of the economic crisis, when more than a 1000 households received one.

 

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Québec Landlords Association (1)

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