Estate liquidators: Who you should call if you’re facing foreclosure

Liquidators say the process of finding a new home is becoming increasingly complicated.

The Bank of Nova Scotia says homeowners can contact more than a dozen agencies before they get a new address and a loan.

But many people have to do more than that, and it can be difficult to determine what is most likely to help.

Property law expert and real estate lawyer Jennifer McBride says there are so many variables, and she is seeing a lot of confusion.

“People are saying, ‘My loan is being applied for, my home is being sold, I don’t know if my property is going to be approved, I haven’t been able to contact any of these agencies and I don\’t know if I can afford to pay all of these fees,’ ” she says.

She says that is a common theme among consumers who don’t understand the process.

“They think it’s like this is an overnight process.

But it can take up to 12 months,” McBride explains.

The process involves contacting multiple agencies, and the banks usually send out a letter explaining that there is an emergency in your home.

After a few weeks, a lender can apply for a home loan, and you have until December 20 to decide if you want to go ahead with a loan or not.

If you do not want to pay the loan, you have to pay interest.

But McBride warns that if you are facing foreclosure, you need to be sure to take all of the time necessary to get your property approved before the bank takes possession.

And you have two choices: you can take a short time to apply for an emergency loan or you can fight to get a mortgage.

“That’s one of the big things, the way that banks and landlords are moving forward is they are taking advantage of the fact that people are in a crisis.

People are feeling the pain, they’re having to work hard to survive,” McConville says.

“There is an awful lot of stress and anxiety, and they’re going to go out of their way to make sure that as long as you can afford the mortgage you can have a home.”

The process can take several months and can be extremely expensive.

If a home is still not approved, there are still several hurdles that need to come together.

McBride recommends that homeowners pay all the fees, including taxes and insurance.

“You have to prove to the bank that you have the ability to pay that money, that you are willing to pay, that there’s not going to come a time when you won’t be able to pay,” she says, adding that you also need to know what the lender will ask for in order to get the loan.

“Then you have another $100,000 to fight over, $200,000 if you have a down payment, so you have $200 to fight about,” she adds.

And finally, you also have to be prepared to wait a few months to find a home.

“If you are a young adult, it can last from a couple of months to a couple years,” McBrevly says.

That is why she recommends checking with the banks before signing on the dotted line.

“One of the problems with mortgages is they can get expensive and you can’t afford it, so people need to have that kind of knowledge,” she explains.

“But it doesn’t necessarily mean that you will never have to deal with foreclosure.”

With files from CTV Vancouver’s Kristine Smith and the Canadian Press