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Another interesting aspect of Canadian mortgages (as opposed to US ones) is that you can't just walk away if the mortgage is underwater (which is what a pot of
by infinite8s 4y ago
Another interesting aspect of Canadian mortgages (as opposed to US ones) is that you can't just walk away if the mortgage is underwater (which is what a pot of people in the US did after the GFC). The bank can come after you for the difference between house value and mortgage.
- lotsofpulp 4y agoThat is only in states that legislate non recourse home mortgages. https://www.loan.com/home-loans/how-non-recourse-loan-laws-vary-from-state-to-state.html https://www.loan.com/home-loans/how-non-recourse-loan-laws-v...