What distinguishes foreclosure on a mortgage from bankruptcy?

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2022-11-27 16:52:58 - Translate -

In Canada, a borrower's failure to make payments results in legal actions such as bankruptcy and mortgage foreclosure. Both times, the borrower gives up assets to pay off obligations. But that is the extent of their commonalities. Bankruptcy You can lawfully discharge your debt through bankruptcy, an insolvency procedure that is governed by the government. You must transfer your assets to an...

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