FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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Whattodowhattodo

Your answer regarding foreclosure v. bankruptcy was very good. I would like to ask what “powers” CMHC has to collect from me, once my home goes through foreclosure. Can they take part of any future wages? Can they take a home away from me, years down the road, if I come into some money and purchase a small home? etc??

Posted from: Saskatchewan
CATID17

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One Response to “Whattodowhattodo”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

After a forclosure CMHC will have all the standard powers of an unsecured creditor. The most common of which include wage garnishment and the potential seizure of non-exempt property etc. It is for this reason many people seek protection from their creditors through a consolidation loan or a personal bankruptcy.