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renewing mortgage with consumer proposal

my husband and i are considering a consumer proposal. we have never missed a mortgage payment and our mortgage will be up for renewal march 2013.. we are with a major bak (rbc) is it common for a bank to not renew a mortgage because of a consumer proposal? what are the chances of them not renewing it?

As well – some of the debt we owe is to the same bank as our mortgage.

thanks so very much,

Posted from: Alberta

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One Response to “renewing mortgage with consumer proposal”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

With most major banks a mortgage renewal is all but automatic. They normally don’t require any additional credit checks as they have enough history internally to be able to gauge whether or not you are a risk. This same principle tends to hold true regardless of whether you have filed a bankruptcy or a consumer proposal.