Comments for Helping Homeowners Through The Foreclosure Process http://www.canadahomebuyer.ca/blog Alberta Foreclosure Help Wed, 07 Jun 2017 22:04:11 +0000 hourly 1 https://wordpress.org/?v=4.9.8 Comment on Your Personal Liability In An Alberta Foreclosure by Alberta Foreclosure Info http://www.canadahomebuyer.ca/blog/abforeclosure/personal-liability-in-an-alberta-foreclosure/#comment-15122 Wed, 07 Jun 2017 22:04:11 +0000 http://www.canadahomebuyer.ca/blog/?p=110#comment-15122 Not sure if I entirely understand the question. Are you asking if they will come after your new house if you still owe them money?

If you have an outstanding amount showing up on your credit bureau to CMHC you likely won’t even be able to purchase a home with 25% down until that payment outstanding amount is dealt with. It will be the kiss of death to your credit rating until it’s removed.

Bill

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Comment on Your Personal Liability In An Alberta Foreclosure by harpreet http://www.canadahomebuyer.ca/blog/abforeclosure/personal-liability-in-an-alberta-foreclosure/#comment-15121 Wed, 31 May 2017 20:13:03 +0000 http://www.canadahomebuyer.ca/blog/?p=110#comment-15121 One more question, can they take my house if I buy one giving 25% down?

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Comment on Your Personal Liability In An Alberta Foreclosure by harpreet http://www.canadahomebuyer.ca/blog/abforeclosure/personal-liability-in-an-alberta-foreclosure/#comment-15120 Wed, 31 May 2017 20:10:06 +0000 http://www.canadahomebuyer.ca/blog/?p=110#comment-15120 Thx

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Comment on Your Personal Liability In An Alberta Foreclosure by Alberta Foreclosure Info http://www.canadahomebuyer.ca/blog/abforeclosure/personal-liability-in-an-alberta-foreclosure/#comment-15112 Wed, 24 May 2017 15:44:43 +0000 http://www.canadahomebuyer.ca/blog/?p=110#comment-15112 Hi Lana,

I would contact the foreclosing lawyer and let them know you are trying to work through this but your husband isn’t being cooperative and that you need to be contacted as well (if you’re on title as well they should be contacting both of you). By doing this you can confirm they have the correct contact info for you and hopefully that allows you to get updated of any hearing dates.

You’ll definitely want to attend that hearing and from our experience those with a plan (either to pay out the mortgage via refinancing or sale, or hoping to give back the property) are allowed extra time. This can change depending on the amount of equity in the property, but with CMHC involved the bank won’t lose either way as they get paid out and CMHC comes after your husband and you.

If you’re currently talking to a lawyer about your divorce you’ll want to make sure they are aware of this as well as it can impact the divorce proceedings later.

As always just a reminder we’re not lawyers, we don’t have all the details in this scenario and there might be information that could affect our suggestions, hopefully it gives you soem direction though.

Bill

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Comment on Your Personal Liability In An Alberta Foreclosure by Lana http://www.canadahomebuyer.ca/blog/abforeclosure/personal-liability-in-an-alberta-foreclosure/#comment-15109 Tue, 23 May 2017 19:56:31 +0000 http://www.canadahomebuyer.ca/blog/?p=110#comment-15109 Hello, Just wanted to say thank you Bill for taking the time to help us all with answers to our questions as we are all going through difficult times 🙂

Here’s my situation, my husband I are headed towards divorce and he wants to ‘take me down’. By doing so he has stopped all payments to the mortgage which is CMHC and under both our names. I have no family or friends here to help out, so I am trying to save up for me and my child to move out. However, now that we have filed a response for demand of notice a couple of weeks ago, we wait for the court date. This at least buys me some time to save up and find another home. However, I’m worried since we have NO equity and no way of saving this place as my husband has no interest, I’m worried we won’t get much of a redemption period. My biggest concern is this..how do we find out when our 30 days is up? Does it come through the mail? I am concerned because he is at home all day and I am worried he will intercept this mail and not tell me eviction is coming up to spite me, and I will come home to a lock on the door with all my belongings inside with no way to retrieve them.

Thank you

Lana

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