Consumer proposal

February 14th, 2011 by Questions

Can you remorgage after a consumer propsal?

Posted from: Ontario


One Response to “Consumer proposal”

, A licensed trustee said:

You may certainly renew your mortgage after you have filed a consumer proposal, but if you try to change mortgage companies during your proposal or in the first 2 years after you have completed your proposal you are not likely to be successful.

The law prohibits your existing mortgage company from refusing to renew your mortgage becuase you filed a consumer proposal, but it doesn’t stop any new lenders from denying you a mortgage for the same reason.

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