Mortgage forclosure during consumer proposal
January 9th, 2011 by Questions
I was wondering, I have a house with a value of 100000 and a mortgage of 145000. If I file a consumer proposal for my unsucured debt (credit cards) and it is acceptedand then the bank forcloses onmy mortgage after the acceptance, what happens with the shortfall after the sale. Is it considered unsucured debt and put into the consumer proposal or is it considered new unsecured debt that I am responsible for?
Posted from: Ontario