Ontario Canada - if you have a mortgage, you can sell your property and pay off the mortgage. If you are in negative equity position, it would be a challenge as the bank would need to know how to get paid for the difference. If you ask the bank to foreclose you, then whatever the value of the home they would sell and try to recover the cost. Please email me at victor_catalan@centum.ca and I will research more on your condition. I am running blind here and am only making assumptions.

I spoke to a (free community) lawyer re the same situation. They advised that if the complete mortgage payment is similar to a rental payment the leaving partner will have to pay that the partner still in the house has to cover the costs. I`d seek legal advice before confirming this though.

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Hello, could someone please give me a quick run down of the living expenses for a married couple living in toronto canada? we are looking at renting a house in pickering and eventually we would like to buy a home as soon as we know how we are financially. so i've composed a list of monthly bills. i just need someone to enter the amounts for me. 1. mortgage payment or rent, for a reasonably sized 3 bedroom house in a nice safe area such as pickering. $ 2. heating per month. $ 3. electricity per month $ 4. other utilities, such as phone, internet. etc. $ 5. groceries & other essential items $ 6. automobile loan, for a reasonably priced car $ 7. gas $ 8. insurance, if we opt to pay it monthly $ is there anything else i'm forgetting? and let's assume both my husband and i are earning $30,000 per year... how much would we be left with after the taxes have been deducted? my husband is a computer engineer, i work as a veterinary assistant. thanks.

Some of it will depend on your lifestyle for sure, as I am sure you have already considered. Cost of housing is going up in the Toronto area, but you should be able to keep cost of housing under $1000 a month especially if you intend to buy and if you have some time to look. Many expenses will be fixed, and you can expect to spend about $50 a month for sure for each of telephone, cable TV, Internet, and municipal services. Cost of groceries and other essentials will depend on where you like to shop and your lifestyle, but that is an area where you can save money by being aware and getting to know the area. My daughter who lives in Bloor West Village and my sister in Ajax both know where to go to get the best deals. Heating and electricity again will depend on you, as you have some of that in your control, but count on $300 a month, especially in the winter. My sister is very careful both about the use of heat and the use of AC. Insurance is less predicable as it depends on your needs and driving history, etc. I would expect up to $100 a month for vehicle insurance alone, and then add home insurance and health insurance to that. A car will cost about $300 - $400 a month unless you lease, which I would never do, but it may be a good option for you. Even a lease gets close to $300 a month anyway. If you consider a good used vehicle you may get away with less for a car payment. I hope this is of some help.

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Hello, could someone please give me a quick run down of the living expenses for a married couple living in toronto canada? we are looking at renting a house in pickering and eventually we would like to buy a home as soon as we know how we are financially. so i've composed a list of monthly bills. i just need someone to enter the amounts for me. 1. mortgage payment or rent, for a reasonably sized 3 bedroom house in a nice safe area such as pickering. $ 2. heating per month. $ 3. electricity per month $ 4. other utilities, such as phone, internet. etc. $ 5. groceries & other essential items $ 6. automobile loan, for a reasonably priced car $ 7. gas $ 8. insurance, if we opt to pay it monthly $ is there anything else i'm forgetting? and let's assume both my husband and i are earning $30,000 per year... how much would we be left with after the taxes have been deducted? my husband is a computer engineer, i work as a veterinary assistant. thanks.

My sister lives in Ajax, in a small but nice two bedroom townhouse (mortgage, not rent), with a third bedroom in the basement, two bathrooms, and her expenses break down something like this: 1. Mortgage Payment or rent, for a reasonably sized 3 bedroom house in a nice safe area such as Pickering. $800 2. Heating per month. $175 in the winter - she keeps the thermostat on about 20 C 3. Electricity per month $130 - she hangs a lot of clothes to dry inside and doesn't have a freezer 4. Other utilities, such as phone, internet, TV. etc. $160 5. Groceries & other essential items $600, but depends on your lifestyle 6. Automobile loan, for a reasonably priced car $300 7. Gas - depends how far you have to drive for work - she spends about $75 a week - could be different for you 8. Insurance, if we opt to pay it monthly - house, car, health - $200 for sure, depending on your driving history and housing, etc., could be more 9. Municipal taxes ??? 10. Entertainment ??? Total: about $2650 x 12 months = $31,800 which should be well within your budget, depending on what other payments you have to make. If you both make about $30K, you should have about 40,000 left after taxes. I hope this helps.