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my house no equity

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
thanks

One Response to “my house no equity”

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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.