What would happen to a damaged home if surrendered during bankruptcy?

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What would happen to a damaged home if surrendered during bankruptcy?What would happen to a damaged home if surrendered during bankruptcy?

My parents moved into a house I had reluctantly purchased on their behalf (Due to their terrible credit, and me wanting to stay in their house in the city). Upon them moving out there one or the other was out of a job for an extended period of time.

After about 9 months they had moved back in and all their bills had fallen way behind. Including, somehow, the insurance on my house. During the first cold snap that year (3 weeks after the policy was cut) a radiator upstairs blew because my father hadn’t left the heat on before they left, flooding the downstairs.

The damage being quickly mitigated by me addressing it by heating the place and thoroughly dehumidifying. They have since exiled me from my family and haven’t helped at all. In fact, they left me with their old appliances and took the brand new ones they had obtained through refinancing…

I find now upon moving out here to fix their mess that it is becoming more than I can bear, mentally, emotionally, and financially. I am considering bankruptcy as I am also behind on property taxes too. Aside from my parents ruining my life, I have been absolutely financially stable.

If I were to claim bankruptcy, could the mortgage be included even if the house were damaged?

P.S Thank you for any response in advance.

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Yes, the mortgage could be included in the bankruptcy, in spite of the damage. Your mortgage debt will be included in the bankruptcy discharge.

Please confirm this with your trustee:

https://bankruptcycanada.com/trustees1.htm

– Trustee

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