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Foreclosure process

Does anyone have any knowledge of the final stages of a bank foreclosing on a house? The bank has gotten their judgment from CoQB, someone from the bank came by the other day to assess the house, but nobody seems to be able to tell what happens from here.

We’re ready to move, but yet to find an apartment.

Do they just show up, and change the locks and kick us out, or do we get some notice to vacate the house? If so, how many days?

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12 Responses

  1. You should get a date to be out by taped to your door or delivered to you.

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  2. Tracey White Tracey White says:

    You should get 30 days notice.

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  3. Tasha Turner Tasha Turner says:

    Sometimes… other times abd all to often they come change locks when your not home and you are then without your belongings..once locks are changed you no longer own anything in or on the property.
    But id call your bank and see if they will provide u a date. Or your lawyer as they may not speak to you directly anymore.

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  4. Maja Black Maja Black says:

    There may have been a date on the court documents, if not they will either post it on your door or have the sheriff serve it… I briefly collected for cmhc at a collection agency, FYI, if the house doesn’t sell for the amount you owe, the bank will apply to cmhc for the amount of your loss, you then owe that money to the federal government. They will guarnish your income tax return,any gst.(not child benefits though) . If you don’t make arrangements to pay they will guarnish your paycheck (they don’t need to take you to court, thank already did, plus it is federal). Under the laws of Alberta you are allowed 800.00 to live on plus $100.00 for each dependent listed on your payroll deductions…after that they take 50% of everything over that number. Your best bet is to make arrangements.

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  5. Julia Bryce Julia Bryce says:

    try to speak with the bank or your lawyer. I believe once the sheriff is there to change the locks…you are poop out of luck. start moving your stuff out now!!

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  6. I am so sorry you are going to lose your house. I would check, because I think if you make a payment they have to wait a while before kicking you out. Are you unable to rent a room or two out to help you make your mortgage payments? My girlfriend did that to pay her mortgage off faster.

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