Co-Borrowing on a Mortgage
April 27th, 2007 by Questions
If I Co-Borrow (Co-Sign) on a Mortgage with my Common Law Spouse and then later I opt for a Consumer Proposal is the house affected at all?
I have significant debts and am self-employed and am on the verge of having to bail myself out in some way. Preferrably not bankruptcy.
My spouse has a decent job and can afford the mortgage but needed me to co-sign in order to qualify as my credit rating was quite good at the time. How things can change.
So I am officially a co-borrower on the house but can no longer afford my personal debt. I\’m terribly worried about my personal finances affecting what is essentially her house.