ok thanks, im working on getting this settled, so then they shouldnt have to do that, if we work out a settlement, correct? and thanks to all for the valuable info. :)

Just about any government ministry can obtain an order or certificate to collect money owing to them. Like I said before, a bank manager who is a friend of mine, says she gets government requests all the time to seize client accounts.

But it could also refer to things like withholding income tax refunds, social benefit set-offs, EI overpayments and the like. Heck, I even know of one guy who owed the EI a 1 day overpayment. He started a job on Friday but didn't report it until the following Monday. EI sent him a letter a month later demanding 80 bucks. He ignored it for a month thinking that he could leave it go for a while. The next week, HR told him his paycheck had been garnished. Prettty embarassing.

what is an enforcement certificate?

Like Steve, don't forget to bring your checkbook to court. The reason no one has commented on them is that they are too absurd to bother. I was referring to the content of the arguments on your website, not you.

I love it, people like you can only attack at the personal level, I notice that no one has commented on the actual documents and given me their interpretation of the clauses, why don't you let all the rest of your adoring public have your take on the mortgage terms and tell everyone exactly where I am wrong and leave your opinions on my mental condition out of it.?
Or, on the other hand, keep up the good work, I should pay you for the publicity you are giving my site.

Just saw dandyrough's website, and I must say it is beyond stupid.
http://www.cmhc-class-action.com/

Why don't you take a course in mortgage administration and real estate law before you post such nonsense? Only a complete idiot would waste $2 or even $.02 on such rubbish. Unfortunately, there are some individuals whose strength of conviction is inversely proportional to their knowledge.

Pretty good post by "Dryfter". Yeah, it would be a heck of a good deal if you could settle a $27K shortfall for $100. Even Average Joe couldn't do that. If CMHC gets a judgment against you or obtains an enforcement certificate....well, trust me, you don't want to go there.

I think I metioned before that the "Seize or Sue" rule in BC only refers to Personal Property Security Act (PPSA) stuff, not real property (real estate).

Hey footloose, Stop patting yourself on the back for "shutting me down", you couldn't shut me down if you were standing in front of me with a gun in your hand, the blog did what it was supposed to do and you helped a hell of a lot
thanks

www.cmhc-class-action.com
www.bank-deception.com
www.canada-mortgage-fraud.com

watch this space

Hey guys and Gals,

I know for a fact that CMHC will use the declaration in deciding what type of settlement to work with and to determine your ability to pay. In order to enforce payment they can actually file with revenue canada to collect your tax returns and such. That being said once you prove to them that you cannot pay, via the statuate declaration, I have heard of them taking a lessor amount to settle the claim in some cases... That being said if you do get a $100 settlement on $27,000 I would be quite surprised however. But who knows until you try. Regardless, footloose is right in that they will not discuss settlement without the declaration and my thinking is if you have nothing to hide, it may actually strengthen your case.

As far as your credit goes, you will have to re-establish a good payment history on new credit once this all passes. YOur credit has already suffered as a result and as of right now it will impact your ability to borrow funds neagtively...this is already done so no use stressing it. In time this will all get better if you deal with things sooner then later and it is all repairable. It is definetly worth working with CMHC on this as I know they are not at all afraid to secure a judgement against you if you do decide not to make an arrangement with them. This will just extend the right to collect on you for years to come so its better to sort it out now.

I am unsure on how the seize or sue law works with regards to property...I know it applies to vehicles. It would make sence to seek a lawyers advice on this. Like footlosse if I had to guess, it would not apply to property. But it could definetly be worth seeking legal counsel on that one and if its true post your experience!

The stat dec is not a "trap"...though understand that it is definetly a tool that CMHC uses to decide what course to take with regards to your account. It is also admissable in court, so make sure it is an accurate representation of your current situation.

Definetly post here once you get the ball rolling so others can learn from your experience! Good luck!!

Dryfter

Any time that you are dealing with a foreclosed property in which CMHC has insured or guaranteed the mortgage to the mortgagee and the sale of the property results in a shortfall, the mortgagor(s) ( that's you and your husband ) are responsible to CMHC for the shortfall.

What, in effect happens is that CMHC makes an application to the Federal Court for a Mortgage Insurance Fund Deficiency Judgment. But, like any other judgment, it is only a piece of paper and nothing happens until CMHC decides to execute the judgment.

CMHC is prepared to negotiate an offer in order to settle the judgment. But before they are able to do this, being a Crown Corporation, it becomes mandatory that both you and your husband complete in detail a Statutory Declaration. Unless a Statutory Declaration is completed and submitted to CMHC, they will refuse to discuss any proposed offer to settle. The sole purpose of completing the Statutory Declaration is to determine both your and your husband's ability to repay the shortfall either in part or in total.

If both you and your husband are able to make an offer that is acceptable to CMHC, this will NOT save your credit. Your credit took a major "hit" when the mortgagee foreclosed on your property. Only time will help to improve your credit and your Credit Score.

In B.C., as you have indicated, there is the SEIZE or SUE rule. I am not entirely sure if that rule applies to Federal Crown Corporations or
only applies to Provincially-regulated corporations, and private businesses and individuals. If I had to guess, I would say that Crown Corporations would be exempt from that provision of the law.

I would recommend that you consult a lawyer who deals with CMHC and foreclosure matters to get a legal opinion. While there may be a legal fee involved, at least you will know exactly where both you and your husband stand.

P.S. When you find the answer to this question, please report back on this forum as to the answer. To my knowledge, that question has never been raised before and I and others would be curious as to the answer.

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Educating one Consumer at a time