Bankruptcy Question & Answer Forum - Canada

Author:		Dgal
Date:		November 6, 2005
Question:		I want to move to Alberta, my husband has been working there now over a year we have three children and curently own a home and are leasing a vechicle. We will be out of bankruptcy as soon as we finish paying of trustee, after this we are selling our home, we will have a down payment for another home but we are afraid to sell if we can not purchase a home in Alberta, are our hands tied do me and my kids have to stay on here in Nova Scotia because we will not be able to get a mortgage in the west ...what do we do I am soooo scared.
From:		Bruce, Alger & Associates Inc.
Date:		November 7, 2005
Answer:		There is no doubt that it is more difficult to obtain a mortgage while in bankruptcy or once freshly out. However, there is an increasing number of lenders who realize that you are a better credit risk now than you were before you went bankrupt. In Alberta, it is also possible to assume a mortgage. Good luck with your move. Bruce Alger phone: (403) 296-2970 balger@alger.ca