July 1st, 2009 by Questions
Soooo worried that after I file a proposal that my mortgage company can call in my loan!!! never missed a payment!
Posted from: Nova Scotia
July 05, 2009 at 7:13 pm, A licensed trustee said:
As long as you keep the mortgage current you don’t need to worry. There’s a clause in the Bankruptcy and Insolvency Act that prohibits lenders from canceling a contract simply because the borrower has filed a proposal. Ask your trustee to show you the clause…
Better still, call your mortgage company yourself just before you file and get them to confirm that they will not call your mortgage.
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