John Thomas bought a house three years ago and with his salary was able to keep up with payments. Unfortunately, John was recently involved in an industrial accident and is now on permanent disability. Now, he is falling behind on mortgage payments and doesn’t know what to do to get back on track. What should he do?
What can you do?
The cost of home ownership is often overwhelming and it is not hard to get out of control with payments. Rest assured that you are not the only one who is in this situation. Two options for getting back on your feet include consumer proposals and bankruptcy. However, without a stable income, a consumer proposal is probably not a good option for you. You will probably need to consider bankruptcy. Bankruptcy will solve your financial problems quickly, but you need to be aware of the consequences. For more information on bankruptcy, click here.
posted by Questions @ 2:26 PM
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