losing house if I go bankrupt

June 10th, 2006 by Questions

Can I still live in my house after filing personal bankruptcy? I was told that the bank is going to foreclose and I heard I can live here for a year free. Is this true?
I have to allow viewing to potential buyers, but who would want to buy a house they can’t take possession on for a year!


One Response to “losing house if I go bankrupt”

, A licensed trustee said:

No, once the bank forecloses, I am not aware of any law that says you can live there for free for one year. The laws vary in each province, but in general the notice of foreclosure will tell you when you must be out of the house. I suggest you consult a lawyer or bankruptcy trustee for further information.

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