Mortgage renewal in bankruptcy

July 7th, 2011 by Questions

will may have to declare bankruptcy soon. Our mortgage is up for renewal in 6 months. If we have never missed a payment over 10 years will they renew our mortgage if we our in middle of bankruptcy? We have less than 10,000 in equity

Posted from: Ontario

Questions

One Response to “Mortgage renewal in bankruptcy”



, A licensed trustee said:

Most mortgage companies will allow you to renew early – we generally advise anyone with concerns about their renewal to do so BEFORE they file. As a rule, renewals are not affected by a bankurptcy or consumer proposal filing, but it is your home and if you have any fears then the best way to deal with them is to renew early.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)