equity in house and a consumer proposal

Email Us
Contact: (email or phone)
Message:

I have a house valued at $140,000.00 with a mtg of $40,0000 on it. It is both my name and my wifes name, and I dont` want to go bankrupt!

If I file a consumer proposal what happens to the house.

Posted on Tuesday, September 29, 2009 | Filed under: Bankruptcy
 posted by Questions @ 2:49 pm 1 Comment
1 Expert Comment:

 At October 5, 2009 | 7:11 am , Bart Goth, Trustee in Bankruptcy Said...

As long as you are up to date on your mortgage payments and can continue to make these payments, then there really won’t be any impact on your house. Now if you had greater than the $40,000 equity it would require us to make a higher offer to your creditors, but when it is $40,000 or less there really isn’t any issues.

Please type your comment below:

You must be logged in to post a comment.