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Consumer Notice: Homeowners Facing Foreclosure
Advice for Homeowners Facing Foreclosure
Be Cautious of Quick Fixes to Financial Difficulties
The Real Estate Council of BC is warning homeowners facing financial hardships to be wary of unconventional methods or “quick fixes” to avoid foreclosure.
If you are in foreclosure proceedings and contacted by someone promising an “easy solution” to your financial problems, be cautious. If it seems too good to be true, it probably is.
There are things you can do to protect yourself, and prevent a “solution” from turning into a bigger problem:
Ask questions.Seek information from potential purchasers or investors, including their full names and contact information.
Do your research.Make sure you are well-informed about any company offering you a way to avoid foreclosure. Do an online search, ask for references and see if they have a record with the Better Business Bureau.
Before working with a real estate services provider, check whether they are licensed with the Real Estate Council of British Columbia.
Get advice.Seek independent legal advice before signing contracts. You can contact the Canadian Bar Association for a referral to a lawyer.
Report it.If you think you may have been the victim of fraud, contact the Canadian Anti-Fraud Centre or your local police.
If you feel that a real estate licensee representing you has not acted in your best interests, or may have otherwise contravened the Real Estate Services Act, contact the Real Estate Council of BC promptly: info@recbc.ca | 1-877-683-9664
About the Real Estate Council of BC
The Real Estate Council of British Columbia protects real estate consumers by regulating the conduct of real estate professionals under the Real Estate Services Act.
We set the standards for the required education and training of real estate professionals, issue licences, and investigate complaints from members of the public. When a licensed real estate professional contravenes the Act, we may issue a fine, suspension, reprimand or licence cancellation, as appropriate.
This information is provided to you by the Real Estate Council of British Columbia (RECBC).
Your feedback is always welcome and can be sent to info@recbc.ca.
