Question: I am currently in a consumer proposal. If I sell my house, do I keep the equity? Can I buy another house?
Answer: Yes, in a consumer proposal, all you are required to do is fulfill the terms of the proposal. In most proposals you simply make the monthly payments, and you can keep your assets. This also means you can sell your house and keep the equity, since the value of the house was factored in to the original payments.
As to whether or not you can buy another house, yes, you can. However, because you have filed a proposal, that may make it more difficult to obtain a mortgage. This is something you should discuss with your trustee, or with a mortgage broker.




