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Consumer proposal/mortgage

If you have to sell your house to pay back creditors and you have a mortgage who gets paid first? Do you pay off your house and then let the rest fight over the profit.

Posted from: British Columbia

One Response to “Consumer proposal/mortgage”

A licensed trustee said...

Secured creditors, like your mortgage, property taxes, utilities, will be paid first. I suggest you go and speak to a trustee – they can help you do this in an orderly manner and avoid what might result in a number of lawsuits…