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defaulting on a mortgage after bankruptcy

Hello. We had to declare bankruptcy in August of 2008. We protected the house and our vehicle at the time to keep them. Since then I have been unable to find work and my unemployment insurance is running out soon. As a result we will be unable to make our mortgage payment. The house is worth less than we owe as we live in a economically depressed area of BC. Our bankruptcy is not discharged yet due to the directive 12. Do we have any options?

Posted from: British Columbia

One Response to “defaulting on a mortgage after bankruptcy”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

Unfortunately as the default on the mortgage and the forclosure has clearly happend after the filing of bankruptcy, your house cannot be included in the bankruptcy.

So your options are to make arrangments to pay the short fall or once you are completed your bankruptcy and have received your discharge then you can consider filing a second bankruptcy or potentially a consumer proposal.