Free Consultation

Getting Mortgage during consumer proposal term

I am looking at possible consumer proposal but have concerns as my mortgage comes due in 20 months . What will the effect be

Posted from: Ontario

One Response to “Getting Mortgage during consumer proposal term”

A licensed trustee said...

Unless you have had (or have) problems with your mortgage then filing a proposal should not affect your ability to renew your existing mortgage. If you want to be able to witch to a new mortgage company then filing a consumer proposal will definitely cause you problems.

Talk to your mortgage lender BEFORE you file to make certain you’ll be ok.