Negative Settlement Funds?

[beireefer]

Say you have a the following case:
a) Assets: 23,000 CAD cash
b) Liabilities: a house loan of 225,000 CAD
c) Total funds available for settlement in Canada:

Does this case mean you have a negative settlement funds and you're not eligible to apply under Federal Skilled Worker?

Best Regards.

 

[chakri8385]

Say you have a the following case:
a) Assets: 23,000 CAD cash
b) Liabilities: a house loan of 225,000 CAD
c) Total funds available for settlement in Canada:

Does this case mean you have a negative settlement funds and you're not eligible to apply under Federal Skilled Worker?

Best Regards.

Have you bought a house with the loan as per (b) ??
If yes, You should add its value in your assets (a).

Otherwise this looks like you have more liabilities than assets.
Response to (c) should be the cash amt you mentioned in (a)

 

[beireefer]

The plan is to buy a house through a bank loan, I'll own it legally but it will be mortgaged for the bank until I finish its payments in 20 years. Should I put its value in assets as well as in liabilities?

 

[coolguy2010]

just show liquidity investment , house and home loan will create complications.

Investment such as FD, bank account statement, etc will be enough.

 

[beireefer]

Thank you coolguy2010,
It sounds like it would, so i'll stick to the liquid forms.
Regards.

 

[future_canadian]

You MUST disclose liabilities, so you should probably disclose the assets too.