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Can i apply for mortgage even if im on consumer proposal

 
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Vote:
Asked by

Cleveland


Can i apply for mortgage even if im on consumer proposal? I really appreciate your help.
0     In Mortgage Cont.04

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    Q. Can i port my mortgage if i am under consumer proposal?


    "I would have to pay out my mortgage..."



    I called my bank to find out about porting while under a CP, they told me no way. They said they view the CP the same as a bankruptcy, and if i want to port, i would have to pay out my mortgage, pay the fee of 14 thousand for early release and go to a different lender

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    Q. If i do a consumer proposal what happens when it comes time to renew my mortgage?


    "May find out that you did a consumer proposal and may cut down the..."



    The bank may find out that you did a consumer proposal and may cut down the renewed term from 5 years to 1 year. The rates would also be higher as your credit score has significantly changed. Before you do consumer proposal, can refinancing not going to help avoid it? Email me and we can check just to be sure. victor_catalan@centum.ca

    This answer closely relates to:
    • Applying for mortgage with consumer proposal
      • Will my bank refinance my mortgage while in a consumer proposal?
      • Will bank renew mortgage with consumer proposal?
    • Applying for a mortgage in a proposal
      • Can you renew a mortgage with a consumer proposal on your credit?
      • Should you tell your bank you are in a consumer proposal?

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    Can you help us by answering one of these related questions?
    1. Can i buy a home if i am in a consumer proposal canada?
    2. How do banks view consumer proposal?
    3. Can i buy a house if i have filed a consumer proposal?
    4. If you and in the middle of a consumer proposal can you still buy a house?
    5. Can i get a bridge loan if i am under consumer proposal?
    6. If i pay off my consumer proposal with in a year what are the advantages?
    7. How consumer proposal can affect promotion?
    8. Can i exclude my osap from consumer proposal?
    9. Will my bank renew my morgage with them if in a consumer proposal?
    10. What happens in the middle of a consumer proposal when you have to sell your house?

    We need your help! Please help us improve our content by removing questions that are essentially the same and merging them into this question. Please tell us which questions below are the same as this one:

    Q: Can i apply for mortgage even if im on consumer proposal?
    • 81% - Can i get a mortgage while in a consumer proposal?
    • 80% - Can i get mortgage if spose has consumer proposal?
    • 80% - Should you pay off your consumer proposal with mortgage renewal?
    • 80% - Can i get a mortgage w 20 percent down even if i was in a consumer proposal?
    • 79% - Can still get mortgage if i file consumer proposal in canada?
    • 79% - If i do a consumer proposal what happens when it comes time to renew my mortgage?
    • 79% - If i have filed a consumer proposal can is still get a mortgage in canada?
    • 79% - Can i move and transfer my mortgage if i have a consumer proposal?
    • 79% - Can you port your current mortgage while in a consumer proposal?
    • 79% - Does the bank ask if you ever filed a consumer proposal if you are trying to get a mortgage?
     

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