Consumer Proposal Mortgages in the GTA Made Easy!
A Consumer Proposal can't prevent you from obtaining a new mortgage, even if your current one is not yet paid off. You should still be able to give the bank all required documentation including pay stubs and income tax returns.
For most people in the GTA and across Ontario, getting a consumer proposal mortgage is a relief. After drowning in debt and finding it difficult to keep up with the monthly repayments, lower repayment commitments can bring huge relief from financial stress. A consumer proposal can, however, make it difficult to get on with your life, since you may have problems borrowing again.
You may ask yourself “How long after consumer proposal can I get a mortgage?” A consumer proposal is an alternative to bankruptcy. Many people choose a consumer proposal mortgage as an escape when they are in debt and unable to handle and keep up with the required monthly repayments. A consumer proposal mortgage allows people to consolidate their debts. They then pay back a monthly amount that is more in keeping with what they can afford.
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