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Alger Bankruptcy Services


Same team, new name

Alger & Associates personal bankruptcy services are
now provided by
Grant Thornton Alger Inc.

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Edmonton, Calgary bankruptcy Q&A forum

Author:

 

teri

Question:

 

I am wondering what my options are as I am not currently working and want to move back home to be with my family. I owe approx. $220 000 on my mortgage and would be lucky if I could sell my house for $170 000. Obviously this is not an option. I am wondering what happens if I have to walk away from my house, in order to move back home, as I will not be able to sell the house for anywhere near the amount I owe. I look forward to your reply. Thank you, Teri



From:

 

Alger & Associates Inc.

Date:

 

Jan 01, 2013

Answer:

 

Hello Teri, If your mortgage is an insured mortgage (ie usually a low downpayment mortgage)and a foreclosure occurs, you will be liable for any deficiency. The Insurer will take collection action to recover the deficiency from you by filing a statement of claim, obtaining judgment and enforcing collection of the judgment. Please contact me to discuss your options in more detail, you can reach me at my office, 403-296-3082, cell 403-909-9572 or my email at marie.kozlowski@ca.gt.com. There is no charge for this consultation.

Marie Kozlowski
T 403-296-3082
Marie.Kozlowski@ca.gt.com

 

For Alberta Bankruptcy help, call TOLL FREE from anywhere in Alberta: 310-8888
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