my house no equity
December 28th, 2007 by Questions
I have renegotiated my mortage at 95% to pay some debt ,as a result i have no equity left in my home,is it possible to keep my home if i declare bankruptcy. My mortgage payments are up to date, live in Ontario
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December 29, 2007 at 1:40 pm, Barton Goth GCO Bankruptcy Trustees said:
If you have no equity, are up to date on your mortgage payments and file bankruptcy in Ontario you should not have any major troubles.
Although, if you have a small amount of equity you may want to discuss the filing of a proposal with a local trustee as it can help you protect the property in question.