mortgage

August 1st, 2012 by Questions

I am going through a divorce and I want to declare bankrutcy. I have a joint family home which my ex-husband is living in. He is constantly late on the mortgage but every few months he gets the mortgage caught up. I want the bank to take the house. What will happen to this secured mortgage if I file bankruptcy?

Posted from: Manitoba

Questions

One Response to “mortgage”



, A licensed trustee said:

As long as your ex keeps up with the mortgage, the bank will let them keep the house. There are two scenarios where they may lose the house – if the mortgage falls behind and if you file for bankruptcy and there is equity in the house. Since you didn’t mention any equity, I assume there is none…

Be sure to discuss the house with your trustee BEFORE you decide to file.

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