Mortgage Renewal while in Consumer Proposal

January 6th, 2010 by Questions

My mortgage is up for renewal in 13months and i have been paying my cp for 1 year now. I`m wondering if my bank will chose not to renew my mortgage now that i am in cp. Most of the money i owed was to the same place that i have my mortgage, will this make them not want to renew? I have never missed a mortgage or cp payment. i`ve will have been paying my mortgage for 5 years when it comes up for renewal.

Posted from: Manitoba


One Response to “Mortgage Renewal while in Consumer Proposal”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

Typically as long as you are renewing your mortgage with the same institution it has been with for the last few years then this is a fairly simple thing to do. The institution then relies more on your payment history with them than anything else and often doesn’t even delve deeper into your current financial position.

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.)