Question: My mortgage is more than my home will sell for. if i claim bankruptcy is the remaining portion included.(i want out of the home but owe more than its worth)
Answer: You have two options regarding your house when you file for bankruptcy in Ontario.
First, assuming the mortgage holder agrees, you could continue paying the mortgage and keep the house. In your case, because the mortgages are more than what the house is worth, your bankruptcy trustee will not take your house.
Second, since you want out of the home, you could find a place to rent, surrender the house to the mortgage company, and file bankruptcy. When the mortgage company eventually sells the house, the shortfall will be included in your bankruptcy.
There are many issues to consider, so we suggest that you contact an Ontario bankruptcy trustee for a free initial consultation to review your options.