The number of house seizures fell in June for a fourth consecutive month, in Quebec.
The Firm GDL Crédit Ressource has revealed that 270 owners have been forced to hand in the keys of their residence in June. This is about a fall of 2,5% compared to the same period last year, when a five-year old record had been established, with 208 seizures.
The majority of the seized properties are located in the regions of Laval, the Laurentians, as well as in the Montérégie and the Eastern Townships.
The average mortgage balance of the seized properties amounted to more than 165.500 $.
The notices of seizure, which are an indicator of the trend, were also going down.
In June, 800 notices were sent, which represents a fall of 113,1% over June 2009. The region of Laval-Laurentides comes in first with the number of notices, that is to say 189, followed by Montreal (134) and the Montérégie (138).
The notices do not necessarily lead to a seizure, but they are sent to an owner who is defaulting on his payments.