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Canadians can’t walk away from their mortgages the same way as Americans. Mortgages are recourse to all your assets.
by voisin 3y ago
Canadians can’t walk away from their mortgages the same way as Americans. Mortgages are recourse to all your assets.
- oliwarner 3y agoCanadians can file for bankruptcy. That's essentially the at-scale risk of what we're talking about here. The IMF says Canada is the highest risk market for this collapse right now too. It's going to be a rocky few years. https://financialpost.com/news/imf-warns-canada-highest-risk-mortgage-defaults/wcm/5524f5b2-26a2-472e-9fe0-381afd9602e9/amp/ https://financialpost.com/news/imf-warns-canada-highest-risk...