Property forclosure

October 9th, 2008 by Questions

I lost a property 9 years ago that the bank sold at a loss and it was covered by cmhc. Now the insurance company is asking for the loss amount of 40,000.
What to do?

Posted from: British Columbia


One Response to “Property forclosure”

, A licensed trustee said:

You may not beleive thsi, but somewhere between 7 and 10 years seems to be the average time it takes CMHC to get around to pursuing people for shortfalls on their houses.

I think you should make arrangements to speak to someone in person locally – you’ve got lots of options to consider depending on your current financial situation.

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