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Ian Watt Personal Real Estate Corporation - Sotheby's International Realty Canada

Blog by Ian Watt

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Michael Moore's Movie Capitalism and American Foreclosures

Vancouver Condo Real Estate Video Blog #435 - October 30, 2009

Michael Moore's Movie Capitalism and American Foreclosures

Ian Watt video blogs about Michael Moore's movie Capitalism and how it really opened up Ian's eyes to the difference between the American foreclosure system and the one in British Columbia. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs.

Ian Watt: Hi, Good Morning, it's Ian Watt in Downtown Vancouver. Last night I had the opportunity to see Michael Moore's capitalism movie. It was brilliant to say the list. It really open my eyes to how the foreclosure system works in the United States, it was unbelievable! In Vancouver or in British Columbia and I've mentioned this in videos before. The whole foreclosure process might take a year or eighteen months to go through from when you miss your first payments until your home is sold. At which time a person who's defaulted on their mortgage can stay in their property. I knew in the United States that people have the opportunity to have thirty days in their place but I didn't realize quite how the system work. It was unbelievable to see people being thrown out of their houses, living in vans and what not just so the bank could put their place out for sale. It it shocking, it's so I guess disgusting because it's such an unfortunate situation to be foreclose upon and then to have to move in thirty days even before the property is even sold. It's shocking. In eighteen months or year or eighteen months that the whole foreclosure process is going through in Vancouver or in British Columbia. They give a chance to this people to actually look for a jobs, get back on their feet maybe relocate or just find a new place to live, a new place to rent. But in the mean time they able to sit their in their nice warm place and not be thrown out without the plan b. Makes me proud to a proud to be Canadian and proud that I worked in the system that does protect the unfortunate. That's for sure and there's still opportunities in a capitalistic way in British Columbia don't think were socialites at all. But its so sad if you watch that show and you learn how it happens in the United States. You wish you had the system we have in British Columbia. My name is Ian Watt. If you have any questions about foreclosures. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!