In recent years we have seen an increase in bankruptcy and consumer proposal in Canada.  Although we have not reached the heights of some other nations is this area it is still a reality of the recession we find ourselves in.  As household debt levels rise Canadian home owner find themselves in a position where they need to pay down debt or take out equity to support cash flow in the future.  Banks are other major A lender (A lender is a mortgage lender who deals primary with income and good credit score applicants) are not interested in clients with bad credit scores, bankruptcy or consumer proposal.
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