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mortgage renewal and same bank doing a CP with

What is the likelihood our mortgage would be renewed with a bank which is one of the banks largely affected by us doing a CP?

Posted from: Ontario

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One Response to “mortgage renewal and same bank doing a CP with”

A licensed trustee said...

AS long as your mortgage is current when you file the proposal and you ave no payment issues from the date of filing to your renewal you should not have any problems renewing. The law does not allow a lender to cancel a contract simply becuase you have filed a proposal – if you keep the mortgage in good standing then you are protected by the law.