home equity

House Equity in Bankruptcy in Ontario

September 20, 2010 12:15

Question: I am in the process of filing bankruptcy in Ontario but have not signed the papers yet. There is $8000 equity in my house however there is still 4 years to go on the mortgage that if I sold now I would owe more than I make in closing costs and the rate differential [...]Question: I am in...

Mortgage, Car Payments and Consumer Proposal

September 16, 2010 08:17

Question: I was just wondering, if we have a mortgage on a house and we are making car payments through a bank can we still qualify for a consumer proposal without losing either of those things? Answer: Yes, you can file a consumer proposal or a bankruptcy in Ontario, and continue to make the...

Bankruptcy in Ontario: What Happens to My House and Car?

March 11, 2010 18:11

A house and a car may be exempt in a bankruptcy in Ontario, depending on their value.Question: Hi, my boyfriend is heavily in debt and we would like to seek some advise. He has $70,000 in credit card and line of credit debt and is having a hard time coping up with the payments since he only works...

REAL ESTATE AS AN INVESTMENT

Mark Ashton
September 21, 2009 18:20

Lawyers are not financial advisers but we do lots of real estate transactions and for most divorce clients, the largest asset in the portfolio is the family home.  So in just about every matrimonial case, there is the inevitable question.  Should we hold or is it time to fold? It’s...

House Sale Pricing and Bankruptcy in Ontario

April 01, 2009 18:29

Question: With the drop in the housing market, what happens if my house is evaluated today, and is worth less in a month?As well, does the trustee settle on the gross sale price of the house ie:(300,000 - 100,000mtg = 200,000 to be paid), or is the net price after what would be legal and real...