should we move our mortgage prior to filing for bankruptcy
March 1st, 2009 by Questions
We are thinking of making a consumer proposal.Should we move our Mortage to a different bank? We owe overdraft,line of credit and credit card debt to this bank but want to maintain our house payments.
Posted from: Nova Scotia
One Response to “should we move our mortgage prior to filing for bankruptcy”
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March 02, 2009 at 10:18 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
As long as your up to date on your mortgage I don’t see any need to move it to a different institution. The mortgage is treated differently than the rest of your debts and due to the large amount of appreciating property it is secured by the bank usually has very little concern. The one thing that may be more difficult is renewing the mortgage with this institution, as this may be more difficult to do if the bank has had to write off a portion of your other debts.