Uncertainty Over the Scope of Borrower Protections in Mortgage Enforcement Proceedings in Alberta: The Problems and Potential Solutions
This article analyzes the complex legal framework surrounding protections for borrowers in mortgage enforcement proceedings in Alberta. It examines two statutory protections — default redemption periods and protection from deficiency judgments — as well as the applicability of non-recourse protection to non-purchase money loans and how Crown immunity has previously curtailed the protections. Homeowners are often unable to navigate the system due to its complexity and the power imbalance between lenders and borrowers.
The article advances several possible solutions to this issue, including education initiatives aimed at borrowers, enhanced disclosure obligations for lenders, and reforms to the scope of the borrower protections. These changes aim to assist homeowners in claiming the protections they are legally entitled to and to ensure that Albertans are not needlessly unhoused.
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