Mortgage after proposal

June 22nd, 2009 by Questions

Due to my divorce I had to take on a consumer proposal in April `05. I was able to pay it off in May `08, 2 years sooner than I was given. My new husband and I want to refinance the mortgage on the house we share to have some badly needed renos done this summer. The mortgage is entirely in his name but we want to refinance in both of our names. He has an excellent credit rating and I am rebuilding mine with a secured credit card and regular monthly RRSP contributions. Can we still be approved together even with my bad credit rating? The house has plenty of equity in it.

Posted from: Saskatchewan
even with my bad credit rating? The house has plenty of equity in it.

Posted from: Saskatchewan

Questions

One Response to “Mortgage after proposal”


June 23, 2009 at 8:28 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

This is a question you are best to ask of your major banks. While it sounds like you have done all the right things to repair your credit and I don’t anticipate you will have any trouble making this application. However, because the lending decision is based on a number of different factors it is difficult to say for sure.

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