House
October 28th, 2006 by Questions
Hi,
Quick Question.
My ex common law girlfriend and I had signed a mortgage together, we’ve seperated and I am now residing in the house awaiting the mortgage to be put into my name only . She has just now filed for personal bankruptcy. Will this affect my credit since both of our names are on the mortgage????
3 Responses to “House”
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.
October 28, 2006 at 4:04 pm, Barton Goth, GCO Inc. Bankruptcy Trustees said:
As long as there is no default in the terms of the mortgage her filing a bankruptcy in Canada should have no impact on your credit (assuming you haven’t been listed as joint borrower for any of her other debts).
December 19, 2006 at 7:54 am, Anonymous said:
What happens if I file for personal bankruptcy, our house is in both our names, and my wife pays all mortgage etc on this house, will the house be affected?
December 19, 2006 at 8:15 am, A licensed trustee said:
The answer depends on the value of the house, and the amount outstanding on your mortgage. If there is equity in the house, the house may be impacted by a bankruptcy. However, the rules are different in each province, so for a specific answer you should contact a licensed trustee.