House / Maintenance / Lien / Renewal
I lost my job a couple of years ago and got into serious debt. I missed many payments on my mortgage, they began to foreclose. I managed to get a second mortgage to help save my house but lost my car and trailer. I have very poor credit. I am not in arrears and caught up my mortgage payments.
Currently, my 1st mortgage company has elected NOT to renew my mortgage AND the Alberta Maintenance Enforcement has placed a lien on my home preventing me from selling valued at $20,000 (due to missed payments). I have no idea where to go from here. I have 2 weeks to pay my first mortgage company the $260,000 mortgage and I can’t sell the house or get a new mortgage. What do I do?
Posted from: Alberta
At this point you have no choice but to deal directly with Alberta Maintenance and Enforcement. That is the only way anyone will be willing to provide financing is if an arrangement is made with Maintenance Enforcement to remove their lien.
Now my guess is they won’t be willing to do much unless you start to make payments to MEF and even then it is a long shot. The net result of all of this is very possibly a foreclosure of the property and once that is completed you may have a substantial shortfall that you will owe to either your bank or CMHC. Regardless of who the money is owed to if you are not in a position where you are able to pay this amount you may have no other choice than to look at a bankruptcy or a consumer proposal.