February 14th, 2009 by Questions
I finished my bankruptcy and was discharged. They did not take my house because I owed 182,00 on the house and they valued it at 170,000. There were extensive repairs that needed to be made on the house so they did not take it. Now 6 months after being discharged I can no longer fulfill my obligations on the mortgage. I have tried to fix the urgent home repairs but am in no position financially to continue paying the mortgage. What are my options? We can`t sell the house for more than 160,000 since the market has declined and we owe 180,000 on the house. We can move in with relatives but what happens to the house and the mortgage owed?
Posted from: Ontario