A motion for summary judgment in a mortgage enforcement action.
The plaintiff advanced $120,000 to the defendant secured by a second mortgage on residential property at an interest rate of 12% for a six-month term expiring July 8, 2025.
The mortgage was not paid at maturity.
The defendant raised four defences: lack of legal demand, improper additional charges, denial of the principal amount, and entitlement to a 120-day grace period.
The court found no genuine issue requiring trial and granted summary judgment to the plaintiff, though it substantially reduced the claimed additional charges by applying section 8 of the Interest Act.
The court allowed the defendant until December 1, 2025 before execution on a writ of possession.