A consumer proposal is one of the most popular debt relief solutions that a licensed insolvency trustee can administer. The consumer proposal is designed to settle an unsecured debt by offering total forgiveness for the full debt against repayment of a portion of the money that is owed. For debtors who struggle to make payments… Continue reading How Does a Consumer Proposal Affect your Mortgage Renewal?
When you take out a mortgage, the only thing you tend to think about is whether you can afford your current monthly repayments – but what if they were to rise? Could you afford to pay them then? A survey by the Bank of Montreal has found that almost 1 in 6 Canadians would not… Continue reading Can You Afford A $500 Increase In Your Monthly Mortgage Payment?
A lot of our clients who have a mortgage choose to delay debt relief services because they are worried that it could affect their mortgage agreement or their home. Filing for personal bankruptcy will automatically affect your assets, and that includes your home equity. But does bankruptcy mean that you could lose your mortgage? We… Continue reading Mortgages and Bankruptcy in Ontario: Know the Facts
How a Mortgage Rate Increase Can Negativey Impact Debt Payments Taking out a mortgage is the only way for most people to purchase a property, but it isn’t always easy to get the credit you need. As well as needing a substantial deposit, you’ll need to have a reliable income in order to obtain financing.… Continue reading The Effects Of Mortgage Rate Increase On Debt Payments