Bankruptcy Question & Answer Forum - Canada

Author:		Abkar Bannayan
Date:		August 22, 2005
Question:		I was discharged from bankruptcy in Alberta, December 31, 2004. At the time of the bankruptcy my wife and I were separated and have since reconciled. How long after can I apply for a mortgage? I am working full time.
From:		Bruce, Alger & Associates Inc.
Date:		August 22, 2005
Answer:		You are able to apply for a mortgage at anytime, even while in bankruptcy. It is up to individual mortgagees as to whether you may obtain a mortgage with a bankruptcy on your record. There are an increasing number of lenders who are prepared to provide a mortgage in these situations. Be Careful! Sometimes these lenders also charge a substantial interest premium for lending to a bankrupt or discharged bankrupt. Bruce Alger phone: (403) 296-2970 balger@alger.ca