Question: Hello, I am planning a consumer proposal, my question is will it affect my home mortgage or me owning my home in any way?
Mortgage is up to date but credit is starting to lag behind.
Thanks
Answer: In general, a consumer proposal does not affect an existing mortgage. In most cases if your mortgage is up to date the mortgage company will allow you to continue making payments on your mortgage. In fact, wanting to keep their home is one of the most common reasons for filing a consumer proposal.
However, to be sure, it is often advisable to confirm with your mortgage company that your mortgage will not be impacted before you file your consumer proposal.
