But what happens when the Canadian dream of owning your own home does not work. the mortgage and property taxes owing from the value of your house).
Read on to learn more about what happens when you surrender your house in Chapter 7. (To learn how Chapter 7 works, see our Chapter 7 Bankruptcy area.). When you file for Chapter 7, you must indicate whether you intend to keep or .
Most people that declare bankruptcy are able to keep their houses. but the major difference has to do with the exemptions to which you are entitled.. in your house: Don't worry, chapter 7 filers, there are still ways you can keep your house.
So the question stands: Can you file bankruptcy on your house?. So what happens if you're in pretty good shape overall with your debt but you have an .
You don't necessarily lose your house or car if you file for bankruptcy in Canada. Get the facts from Hoyes, Michalos – Licensed Insolvency Trustees since 1999.
Filing for bankruptcy doesn't necessarily mean that you'll have to give up your house. Although some people might have to give up some property to satisfy their
Bankruptcy is a federal procedure to eliminate or reduce most of your debts.. The chapter of bankruptcy you file can also play a role in what happens to your .
What happens to your property in bankruptcy depends on whether you file under Chapter 7 or Chapter 13. In Chapter 13, you get to keep all of your property.
Read on to learn more about what happens if you don't pay your mortgage in. lender's lien (and right to foreclose on your house) survives bankruptcy.