FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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mortgage and bankruptcy

If we file for bankruptcy, will our mortgage be covered ? Do we have to sell our home ?

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One Response to “mortgage and bankruptcy”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

The only way you can keep the home is to continue making payments on the mortgage. If you cannot afford the payments and you have no equity in the property, you can quit the premises prior to filing the proposal or the bankruptcy and be cleared from the shortfall that would likely result, but a neither a proposal or a bankruptcy will have any direct impact on your mortgage unless the property gets foreclosed (and this must be prior to bankruptcy, not after you have signed the documents).