July 23rd, 2012 by Questions

If part of my proposal requires me to give up my house,can the creditor come back down the road and get the difference when it is sold.if he does not recover all from the sale?

Posted from: Ontario


One Response to “house”

, A licensed trustee said:

If you surrender the house to the mortgage company BEFORE you file your proposal then they cannot come back after you later for any shortfall they may incur when the hosue is sold.

Discuss the timing of this with your trustee BEFORE you file.

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