Tag Archives: Foreclosure

“Friend of mine just bought a foreclosure, fully furnished, of a family who hightailed to Asia, leaving a pile of unpaid debt.”

“Friend of mine just bought a foreclosure, fully furnished, of a family who hightailed to Asia, leaving a pile of unpaid debt.
Not sure of the details, didn’t ask too much, but the story is that the family owed money — not sure how much — and simply pulled up their stakes and left. Think it was family of 4. I don’t think it’s that common but who knows. The guy got the place with all the high-end furniture still there.
Banks now require a certain level of capital in Canadian jurisdiction to approve stated loans. Before February 2012 or so they didn’t.”

jesse at VREAA 30 May 2012 3:39pm and onwards

“I am renting half of a Van Special duplex on the east side. The owner also owns their own residence and another “investment” property. Last night we got served notice of foreclosure proceedings on this property.”

A story of speculation ending in foreclosure, even though prices are still near peaks and money is still pretty much free. Foreclosures will obviously spike with coming price drops and rate increases. -vreaa

r_ at vancouvercondo.info 3 Jun 2010 10:09 am

“I am currently renting half of a Van Special duplex on the east side. The owner also owns their own residence and another “investment” property. Last night we got served notice of foreclosure proceedings on this property. Things are heading downhill…..”