Will Consumer Proposal affect my mortgage renewal?

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A Consumer Proposal and your Mortgage Renewal

A common concern when you are considering a consumer proposal is, what will happen to my house, and will it affect my mortgage renewal. When facing financial difficulties, you do not want to potentially lose your home, as you have invested much time and money into it.

There is hope!

If your mortgage payments are current and paid on time, and you are able to prove that you can make your mortgage payments for the agreed upon terms and time, you should be able to qualify for a mortgage renewal. You will need to discuss these details with your financial lending institution.

A consumer proposal deals with your unsecured creditors, so you will be able to keep your assets (mortgage/auto loans, your secured loans) as long as you are making payments.

So generally, with your mortgage company, as long as you are making payments on time at the time of the proposal, you should be allowed to keep your property. Again, however, this is something that can only be finalized by your lending institution.

The majority of the mortgage institutions usually renew your mortgage, pending that you have been making your payments on time. If you are behind on your mortgage payments, this could cause possible problems with your mortgage company.

 

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Christine Sylver was very helpful to my situation. No question asked, she went above and beyond just to give me the options that I need to solve my problems. She explained and made me understand my options. Thank you Christine! Everything was done in a week. Regards, to Richard Sklar for explaining everything further to me. 😊
Kris
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I was blown away by how kind and empathetic Christine and David were. I came into the process expecting to feel embarrassed, but they were so helpful and unquestionably supportive, they made the whole experience a positive thing. On top of that, Christine found a solution for me that was better than I ever could have imagined. I highly recommend Christine, David, and colleagues to anyone.
Mary M
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Christine Sylver has been very efficient in working with me in all aspects toward developing a very favourable consumer proposal which meets my financial budgeting very nicely. She also exhibited a very positive pro client attitude and was every pleasant to communicate with. Richard Sklar also demonstrated a very positive pro client attitude in explaining in detail all aspects. All great!!
Rob Hultgren
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Dealing with Christine was a real pleasure.She was very understanding professional and knowledgeable she answered all my questions.I left feeling relieved a big burden was lifted from my shoulders
John Horan
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Very happy I got in touch with Jackie! She has been a great help and a pleasure to work with! I highly recommend Jackie if you need help getting out of financial debt.
Hailey Cascagnette
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I had the pleasure of working with Jackie and she made the experience very easy and was very honest which I appreciated as I was extremely nervous to go through with the process. Any questions or concerns I've had after our meetings were answered no problems and although it's been a few weeks I can honestly say I've never felt so stress-free. Very thankful for Jackie.
Cassandra Arevalo
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Very considerate of how people can sometimes make mistakes and need help to get things back on track. Great team of people. Thanks to Jacqueline for all her help.
Kevin Chase
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My mother told me about this firm because they helped resolve her situation nearly 25 years ago. I had the pleasure of working with Christine Sylver. I should’ve done this years ago but I am where I am and it is what it is. Extremely courteous, professional and understanding. I hope to never need their services again but they would be my first call! A+
Patrick Martel
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Jerry was extremely thorough and ensured that as a client, I understood all of my options and their repercussions. He offered his professional advice best suited for my situation and he is amazing at his work. Thank you Jerry! :)
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Great experience with Jerry and staff. Thank you.
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