My Spouse and I are in our mid-80?s and have a collateral Mortgage which we are paying on monthly. Subsequently we also became enmeshed in a Second Mortgage through a Finance Company on the same property. Which of these has priority in terms of security as we now appear to be in a ?Bankruptcy? as well as in a C.P. dilemma! The Finance Co. has us tied to a 84 month Mortgage! How could 80+ qualify for a Mortgage in this kind of situation?
Posted from: Ontario
Source: http://www.bankruptcy-canada.ca/after-bankruptcy/2012/09/two-octuagenarians.html
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