As a Windsor trustee, this is a common question.
First question – is there equity in the house. Equity means if you sold you house, after paying the mortgage and costs would there be money left over? If there would be bankruptcy may not be for you. The money that would be left over belongs to the bankruptcy and you would have to pay it to your bankruptcy. If the amount is large enough a consumer proposal might also be something to consider.
If there isn’t equity, as long as the mortgagor agrees, the bankruptcy will not take your house.
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