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can we keep the house if I have secured loans on the house

If I am married and I claim bankruptcy can we still keep the house even if I have secured loans on the house?

Posted from: Ontario

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One Response to “can we keep the house if I have secured loans on the house”

A licensed trustee said...

You may keep your house if you agree to pay an amount equal to your share of the equity in the house to your trustee – I suggest you use the links on this page to find a trustee in your area and they can walk you through the process.

If you have loans secured against the house then those loans may not be dealt with in a bankruptcy (or a proposal) – again, the trustee you speak to will explain all of this too.