Home equity

November 12th, 2005 by Questions

I owe 121,000 on my house and the value of the home is about $165,000 – so I have some equity in my home – will I lose my home if I go bankrupt? I have tried to get a second mortgage with no success to pay off my debt. I understand that I may have to pay a portion of the equity, but how can I do that inside of 9 months and who will loan me the money to pay off the debt if I go bankrupt or can I pay this over a period of time just like a 2nd mortgage.

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One Response to “Home equity”



, Barton Goth, GCO Inc. Bankruptcy Trustees said:

It depends on the value of your house, the amount owing on the mortgage, and the province you live in. Click on your province under “Find A Trustee” on the left hand side of this page and you can e-mail a trustee in your province for a complete answer.

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