Tom and Sally Smith rented an apartment for the first three years they were married. Then a real estate agent convinced them that if they bought a house, their mortgage payments would be about the same as their rent payments. When their daughter was born, they decided to buy a house. While they can afford the mortgage payments, the property taxes, utility bills and repair expenses are much higher than when they lived in an apartment, and now they are having trouble paying their bills.
What Can You Do?
As many first time home owners discover, the cost of owing a home is more than just the mortgage payment. There are property taxes, furnaces that need repairing, and the costs of buying furniture for the new house. It all adds up, and for some people it becomes difficult to pay all of the bills. However, it is possible to deal with the creditors and keep your house! A consumer proposal or a bankruptcy may be required to give you a fresh start financially. To investigate your options, click here for more information.
If you're having financial difficulties and live in the Hamilton area, call (905) 777-0770 today to meet with one of our experts, or complete the ask a question form to send us a message and we'll get in contact with you.
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