how to find out when a house went into forclosure

Usually there are many legal steps before a foreclosed property reaches the real estate marketplace. These steps give all parties concerned enough time to try to settle matters. Ethically, as a last resort, the property must be exposed to the market to obtain the highest possible sale price. In many cases the property is sold to insiders at a discount. As a client you can only expect listings on the MLS system but be aware that there are sales that occur before exposure to the real market due to insider action.

Mr. Neilands is confused. Insider action is both unethical and illegal. Many properties are insured, and CMHC is protecting the banks and lenders from losses, when there is a default. The process can take several months, before the lender has vacant possession to sell the property.