Quote:
Originally Posted by fredr123
The writ of enforcement can be renewed almost in perpetuity so in a lot of cases they lender will sit tight and wait for you to become gainfully employed or try to sell your property before they are able to collect. In the mean time, they might sell your judgment to a collections agency or, if the mortgage is insured by CMHC or Genworth, they could assign it to them so that they can try to collect.
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Correct me if I'm wrong, but isn't there a 2 year statute of limitations on outstanding debts? I know one of the keys is that you in no way acknowledge the debt; but in this case couldn't OilKiller just let it slide, rent for 2 or 3 years and then not have to look over his shoulder again?