Have you found yourself in a situation where you have a lot of debt and are considering filing for bankruptcy? If so, you may also be wondering how to navigate your homeownership situation. Should you consider mortgage refinancing after bankruptcy or should you try before bankruptcy?
Declaring bankruptcy is never the first option, but sometimes it's unavoidable. After declaring bankruptcy, your credit report and credit score take a significant blow. Fortunately, it's possible to make a financial recovery and get back to good standing with lenders, especially for mortgage refinancing after bankruptcy.
Being unable to pay your debts when they are due can be stressful. If you are in such a situation, there are options. You can ease your financial woes by filing a consumer proposal.
Losing a home to foreclosure is a devastating and challenging situation for anyone. If you live in Alberta, understanding the foreclosure process beforehand can help you find a mortgage loan for foreclosure to save your home.
Dealing with challenging financial situations sometimes requires the intervention of authorized parties, such as trustees. If you’re struggling with debt, you may decide to enter into a consumer proposal with a trustee.
Declaring bankruptcy is a huge blow to your financial situation and credit report. Fortunately, it's possible to recover from bankruptcy and regain your financial discipline. Lenders scrutinize credit reports and place strict measures on anyone who's declared bankrupt.
Foreclosure happens when you fail to pay your mortgage for a period of time, and your lender repossesses your home and tries to sell it.
Life can sometimes be unpredictable. One minute you’re living your dream life, and the next minute you can barely make ends meet.
Financial trouble can hit anyone at any time, and an unstable economy does us no favours. There may be a time in your life when you need to consider a consumer proposal.
If you get more than three months behind on your mortgage, often the bank will begin the foreclosure process, where they take possession of your home and sell it.