Ok.. I'm confused... here's the situation. Our property in alberta canada was foreclosed on in 2010. We could not make a payment after June 2010. After we were settled elsewhere, we contacted wells fargo by phone and provided our new address.. about mid 2011. According to an old neighbor the house was sold by remaax real estate in about July 2011. We have never received any information about what was going to happen to us until Jan. 2011 we received a statement saying we were required to make payments on $85100.00. We tried to obtain information on how this balance was determined to no avail. Nothing but a monthly bill for the said amount. Now.. June 2012 we received a call from BsC collections out of ontario wanting payment on this acct. I did not acknowledge we owe this amount and will not agree until I receive a detail accounting of how they came up with $85100.00. The last payment was made to this mortgage June 2010. What are the limitations on them suing me for this and how do I get the information I want in case I need legal counsel to dispute this amount? Or should we suck it up and just go bankrupt..? Also.. why wouldn't wells fargo just get a judgment instead of forwarding this file to collections? What the heck is going on?

Have you sent WF a certified letter asking for the details on the account?

They don't have to serve you and attempt to get a judgment - they can "hope" that the collection agency will come to an agreement with you. Of course, you don't have to talk to the agency.

Have you looked up the details on the sale of the house to see if the selling price covered your mortgage OR if "someone" lost money on the transaction?

That's a fast foreclosure - and I admit I know little about how Canada does these things. You stopped paying on the mortgage in June 2010, provided your new address to WF in January 2011, the house was sold in July 2011? Doesn't happen that fast where I am.

Yes... my husband lost his job in July 2010 and where we lived 'many' people were out of work. We tried to make arangments with wells fargo and as the 3 year term with them was due sept.2010 and they were no longer renewing mortgages in canada, without a job and owing more than the house was worth by then, they wanted almost double the original mortgage payment until we found a new lender.. obviously we couldn't do either so we mailed them the keys August 2010 and left :( we knew the house would (if it sold) be a lot less than what we owed and we would owe something,but are we not entitled to know how they came up with the amount? We considered bankruptcy right away, but were advised we could wait and see what was outstanding in case it was something we could manage to pay off, obviously that's not the case. I want to know how long whoever is trying to collect has to sue us or what options we have to collect the details of this debt so we can make our next move.

Oops... we actually didn't receive a staement from them until Jan.2012 not 2011, just re-read and realized the error :)

Again, write and request the info from WF.

Will send it away today and see what happens. Thanks.

Keep in touch, okay? Have to wonder if this claim is correct or not.

Sorry about your financial problems. Just reading it makes me very sad.

Well thanks, it was a rough few years that's for sure, but we've got this far, we'll just keep going :) I sure hope the claim is wrong also!! Lol... doesn't seem right they can do this in this way... wells fargo has been VERY difficult to deal with, hard to reach and now I feel they knew we'd be left hanging at the end of the term and would get our house in the end :( I just wanted to know how long they can drag this out and what they can do to us and for how long. If I don't get a reply to my letter, I think we'll speak to a lawyer before we consider the bankruptcy thing... sigh.. sure hope it doesn't come to that :(

I'd speak to an Attorney. Sometimes you just need a fresh start. I know all the pros and cons but people who have never had a really tough time should keep their comments to themselves.

I hope it works out for you.

Thanks again :) not sure who your talking about as far as comments, I don't see any posts but ours? Either way, we fell on hard times, things are rough, but we will recover, calling my lawyer first before I send anyone anything :) I'll update when I get legal advice in case anyone else is faced with the samething (which I'm sure they are)

So... here's the scoop... because wells fargo self-insured the mortgage, here in alberta there is an anti-deficiency law.. they could not get a judgement through the courts against us when the forecloser happened or force us into bankruptcy because CMHC was not involved.the statute of limitations for them to sue us is 2 years which given our last payment to them is this July. Since they haven't explained the details of their numbers and have handed our file to a collection agency suggests they know they are out of time and hoping we get tricked into acknowleding the debt and reset the SOL so they get an opportunity to get something or sue us if and when things improve for us. I also found out We do not have to deal with collections at all! And have hired a lawyer to try and obtain on our behalf to obtain a detailed accounting of what we supposidly owe them. We will deal with wells fargo directly and hopefully come up with a workable deal to avoid bankruptcy and get back to living:) keep u posted on what happens next!