Mortgage after consumer proposal

House Mortgage

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Tips on Getting a Mortgage after consumer proposal

Home ownership is often a concern for anyone that is dealing with financial hardship. If you have just finished completing your consumer proposal, then working towards owning your own property may be on your to do list. There is a recommended path to attaining this.

Many people unfortunately end up in a situation where financially, they are unable to make ends meet with excessive debt. There are often hardships in life that we have to deal with. With regards to life after a consumer proposal, there is hope for you!

Repairing your Future with a Consumer Proposal

Taking the move to proceed with a consumer proposal is a good step in the right direction. This can be the beginning to repairing your financial future. During this path, it is a good time to help prepare for the future. Work on repairing your credit and helping to regain financial stability.

You may need to be discharged from your Consumer Proposal ( or your bankruptcy) for at least two years if you want to qualify for a “normal” mortgage from any of the major banks.  Needless to say, your credit rating will need to be worked on and improved during the whole process with your consumer proposal and afterwards as well.

The majority of bank lenders will require a proposal be paid in full. You will want to have savings, and this is above your mortgage down payment. You will want to make sure that you have some money set aside in case of any financial emergency. Being properly financially prepared can help with avoiding possible hardships in the future.

Showing that you have been working on reestablishing your credit over the past few years can help to show your improved reliability with banks/lenders.

After 3 Years of Completion

One last thing is to make sure that once three years have passed since fully completing your consumer proposal, that it is fully removed from the credit bureaus in Canada. After 3 years, your consumer proposal should be removed from your credit history.

Take Your First Step Towards A Debt Free Life

If you are overwhelmed by debt, call us at 1-844-962-9200 to book a FREE, confidential appointment. We will review your financial situation in detail and discuss all of your options with you. Alternatively, you can fill out the form below and our team will reach out to you. 

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Great experience i was in financial trouble and someone of my friends recommended this company. Cori is a wonderful and welcoming person she did a very good job and came up with a smooth and flexible monthly payment after the reduction. i highly recommend this company. Thank you David sklar and special thanks to Cori.❤️🙏🏻
Jasmine Joseph
22:08 13 Jan 23
Met up with Mr. Jason Sklar to discuss more in person, very thorough and clear. He is very kind and thoughtful, I will be referring anyone with the same situation to David Sklar & Associates.
Ariel Domingo
02:33 29 Dec 22
I was a reck talking yo Jason Sklar was easy comfortable he explained everything and put my mind at ease I would recommend the team od sklar to everyone. I have already talked to my ci workers about them
kevin mcweeney
01:13 22 Dec 22
The team at David Sklar & Associates is fantastic.I worked with Jerry whom not only made - what seemed like intimidating process to initiate at first - comfortable.He made everything transparent and took the time to explain the process every step of the way.He was kind, attentive, and professional. Everything was made straightforward and stress free and we found a solution together that worked.Thanks to Jerry and the team.
Jordie Angiolillo
18:22 21 Dec 22
From day one till the end which is today😁 DavidSklar gave me a 5star service and treatment. And I will 100% recommend him and his Associates. This is the best Christmas present ever! Thank you David! More business to come! Merry Christmas and a Happy New Year!!!
barbee diaz
16:37 16 Dec 22
I FOUND DAVID SKLAR & ASSOCIATES BY GOOGLING "BANKRUPTCY" (EARLY NOV. 2021). ON NOV.4, 2021 I HAD A MEETING WITH CORI NARON AT HER OFFICE AT ST CLAIR ANDBATHURST. HER POSITIVE APPROACH TURNED ASTRESSFUL SITUATION INTO A STEP BY STEP UNDERSTANDABLE PROCESSON SEPT. 23, 2022 I OBTAINED MY AUTOMATICDISCHARGE FROM BANKRUPTCY AND MY CERTIFICATE OFDISCHARGE.THANK YOU CORIBRUCE BURGESS
bruce burg
21:35 02 Dec 22
Jerry was wonderful and provided superb service. He is very knowledgeable, trustworthy, and made an intimidating and shame filled time in my life stress free. I hesitated for a long time to take the next step, but Jerry answered all questions, was patient and made the process effortless. I am eternally grateful, and highly recommend Jerry’s services.
M J
18:41 01 Dec 22
Jerry was professional and was easy to deal with
Debbie Asquith
00:09 29 Nov 22
I was quite nervous and a little embarrassed that I needed financial advice. I met with Jerry Janiec and he was very helpful. He made me feel comfortable and explained everything in easy to understand terms so that I understood what my options were. I would recommend David Sklar & Associates for anyone in my position.
Melissa Blackburn
19:53 17 Nov 22
I was fortunate enough to be referred to David Sklar & Associates Inc. by a family member. Now in the10th month of a Consumer Proposal process, I am very impressed with the organization, professionalism and impeccable customer representation that I have experienced. To this effect, I amparticularly thankful to Jerry Janiec and Rhoda Lewis for their excellent work.
Suzanna Vaclavik
12:21 16 Nov 22
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