Porting a Mortgage during Consumer Proposal

May 23rd, 2009 by Questions

What is the chance of my lender (FirstLine) allowing me to port my mortgage while under Consumer Proposal? I`ve recently had my mortgage renewed and am 1 year into a 4 year proposal. The property would be a little less than my current property and I would have enough from the sale to pay off the Consumer Proposal. Should I ask them or will it bring up a `red flag`? Thanks.

Posted from: Ontario

Questions

One Response to “Porting a Mortgage during Consumer Proposal”



May 24, 2009 at 5:23 am, A licensed trustee said:

It costs you nothing to ask… if you are in good standing and you meet all of the lenders criteria then there’s no reason for them to refuse your request. It is literally up to the lender to decide.

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