September 16th, 2012 by Questions
My Spouse and I are in our mid-80’s and have a collateral Mortgage which we are paying on monthly. Subsequently we also became enmeshed in a Second Mortgage through a Finance Company on the same property. Which of these has priority in terms of security as we now appear to be in a ‘Bankruptcy’ as well as in a C.P. dilemma! The Finance Co. has us tied to a 84 month Mortgage! How could 80+ qualify for a Mortgage in this kind of situation?
Posted from: Ontario