Money Management and Problems Articles - Archive: September 2009

I have a couple of questions. 1. How much is the maximum amount that can be garnished from your wages for a foreclosure on a home. We could not afford our home and foreclosed. Now the bank is saying they have loses and that we owe them. 2. If you are on disability can it [...]

I have a CMHC insured mortgage and I`m pretty much in a position where I`m going to have to default on the mortgage. What methods does the CMHC use to recover their money after paying out the lender`s claim? What can I expect? Posted from: British Columbia

Hi, my husband recently lost his job and I am on maternity leave as we have just had a baby. With the added expense of our new child and my husbands lost income we decided to do a voluntary surrender of our vehicle. When I spoke with the bank that we had our loan with [...]

When CMHC covers the bank for the shortfall amount on a foreclosed home, CMHC will become my debtor with the entire unsecured shortfall amount. Isn`t the point of insurance is to cover me? It would make more sense if CMHC comes after me for the amount of premium unpaid and not the entire shortfall unless [...]

Does fostering children count as income? These funds are not taxed through the government. I don`t file these funds come tax time. Posted from: Manitoba

I have a supplementary card from my husband`s mastercard. I was trying to build up my small business, and ended up using the supplementary card to cover expenses. Due to the high interest rates, I`m having trouble getting the payment down. The amount owing on the supplemental card is $27,000. I also owe 21,000 on [...]