Personal Bankruptcy Forum


Author:   Tracy
Date:   November 27, 2002
Question:  

My husband and I have been discharged from bankruptcy for one month now -- but we have been wanting to buy a house. Is this possible? What will it take to do so? And will we be waiting for a long time before being able to?

 


From:		  

Shane Brenneis, Collins Barrow Limited
Date:   December 2, 2002
Answer:   In Alberta, you are able to assume a mortgage from the current home owner without qualification. You should contact a realtor, explain your situation and have him/her look for a home you can afford that has an assumable mortgage.

Otherwise, you will need to qualify the traditional way and mortgage companies usually consider a bankruptcy for two years after the discharge.

Shane Brenneis, CA • CIRP
phone: (403) 296-2975
sbrenneis@moneyhelp.ca




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