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Canada is having its own mortgage meltdown \| Les Jones

Canada is having its own mortgage meltdown | Les Jones

This is a discussion on Canada is having its own mortgage meltdown | Les Jones within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; According to the article Canada’s problems duplicate the U.S. problems almost exactly - government-backed bmortgages/b, downpayments below conventional lending standards, ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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12-03-2008, 04:09 AM

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Canada is having its own mortgage meltdown | Les Jones

According to the article Canada’s problems duplicate the U.S. problems almost exactly - government-backed bmortgages/b, downpayments below conventional lending standards, liar loans based on undocumented incomes, and irrational gold rush b.../b

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