Doing nothing is the easiest way to respond to foreclosure, but be sure you know what the consequences are first. Doing nothing has serious consequences. You can live in your home without making mortgage payments while the foreclosure proceedings are going on. This could take several months or longer. But it also means that: you …
Foreclosure process has started, can I still sell my house?
Got a phone call from a homeowner in the lower mainland this morning. He has just received a demand letter from the bank’s lawyer giving him some time to pay back his loan before they will start the foreclosure proceedings. Unfortunately in his case, he cannot come up with the arrears and the only way …
Foreclosure process has started, can I still sell my house?Read More
Filing an Appearance
As of July 2010 the BC Supreme Court has eliminated the “Appearance Notice” is the BC Foreclosure Proceedings and replaced it with the submission of a “Petition Response Notice“. The first step you have to take after receiving the petition is to file an Appearance. We find that many home owners are so confused by …
What happens when your home is sold
After the initial court hearing at which an Order for Conduct of Sale is made, there must be a second hearing to confirm the terms of the sale. The order made at the second hearing is called an Order Approving Sale. If you’ve filed a Response to the Petition, you are entitled to receive a …