What happens if you default on your mortgage? | About That

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CBC News

CBC News

Күн бұрын

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@kpleh7598
@kpleh7598 Жыл бұрын
My bank is more than doubling my mortgage rate in a couple of months ... increasing my mortgage by ~$500 a month ... as a Senior on a fixed pension, this will leave me with very little money for food. Our government/banks don't care about Canadians any more!!!!
@ThePegcitydude
@ThePegcitydude Жыл бұрын
I agree. Retirement is scary and this is one of the biggest reasons why. If they cared about us they would have taken a much longer time to raise interest rates.
@investedfemelle7564
@investedfemelle7564 Жыл бұрын
I work at a major bank and by the time the mortgage hit 90days we are told not to hesitate, send it to legal. Sometimes we’re lenient if the client stays in communication but often by 90 days str8 to legal action. Its scary because alot of mortgages are currently triggered which means all the payments are now paid only to interest. People really can’t afford
@cgasucks
@cgasucks Жыл бұрын
There's gonna be a lot more of that in the months and years to come.
@shaq9361
@shaq9361 Жыл бұрын
That’s how capitalism works, you buy something and if you can’t afford it you sell it to someone who can.
@dynasty5053
@dynasty5053 Жыл бұрын
Its called Downsizing . Now deal with it
@johnhardy4387
@johnhardy4387 Жыл бұрын
Are there any tricks to repaying your Mortgage? If you default, and have the funds to payback, does the bank still hold the property?
@investedfemelle7564
@investedfemelle7564 Жыл бұрын
@@johnhardy4387 once it goes to the legal department, unless you can make that full arrears payment while its within our litigations team sometimes they will stop it, but once it goes to a law firm, no turning back
@LoriTorre
@LoriTorre Жыл бұрын
Finally some real life discussions in the media.
@joshdoddadbod
@joshdoddadbod Жыл бұрын
The fact this even has to be made shows how sad a state Canada is in.
@stoicvibesonly
@stoicvibesonly Жыл бұрын
Moral of the story, if the writing is on the wall for you just swallow your pride and sell your home. That way you can at least re-coup any remaining principle.
@fartsimpson8610
@fartsimpson8610 Жыл бұрын
As a speculator who sees dangers in Canadian banks, I see your guest's reassurance that delinquency rates are so low in Canada as statistical hindsight. As mortgages come due, you will see massive delinquencies and defaults. It's like a guy jumping off the top of a sky scraper....99.99% of his fall is perfectly fine, but no one would extrapolate that degree of safety to the whole trip. Canadian banks typically do not have the assets required to cover massive defaults across the country. Stay tuned.....
@jacobbujold836
@jacobbujold836 Жыл бұрын
Great analogy Fart!
@faridgasimov1742
@faridgasimov1742 Жыл бұрын
So if i got it right, you can not evict a tenant who doesn't pay but the bank can evict you. Which is if you have debt on your rental property you are in big trouble :s
@Hazara26
@Hazara26 Жыл бұрын
Corporation can do anything now you see the system and laws how they favor wealthy.
@vkrgfan
@vkrgfan Жыл бұрын
Remember guys it took about five years for the U.S. housing market to recover from the crash, this is going to be much worse here.
@cappertracker1486
@cappertracker1486 Жыл бұрын
Lmao not ever close junior!
@dynasty5053
@dynasty5053 Жыл бұрын
​@@cappertracker1486 yeah and you would have the crystal ball 🔮 . So you know the future? Got it. You Air head
@rabeasaab7631
@rabeasaab7631 Жыл бұрын
F these banks. Go to the bushes and build your own house
@zooedca
@zooedca Жыл бұрын
Sell the house and downsize to what you can afford or rent. Banks tend to lean towards saying you can buy more house thatn you really can afford.
@ethimself5064
@ethimself5064 Жыл бұрын
Not in Canada
@notpurrfect6397
@notpurrfect6397 Жыл бұрын
@@ethimself5064 Canadian banks tend to be very conservative with their lending. A bigger problem may be with alternative financing and second mortgages.
@pjk1714
@pjk1714 Жыл бұрын
Obviously you don't know what is happening to the rental market. Those rentals that used to worth less now cost more with higher interest rates. Rents have increased 45 to 50%. If you are a family of 4 above age 10 you must have the bedrooms to support with genders. Bottom line, if you can't afford a $3,200 mortgage, you can't afford a 2 or 3 bedroom rent in Canada.
@ethimself5064
@ethimself5064 Жыл бұрын
@@notpurrfect6397 Yep
@ethimself5064
@ethimself5064 Жыл бұрын
@@pjk1714 He is in the USA
@beatrizaceiton3691
@beatrizaceiton3691 Жыл бұрын
One paycheck to become homeless
@bernie6355
@bernie6355 Жыл бұрын
Free money has caused this. If there was an actual real interest rate there would not be all this crazy over bidding. Good luck to everyone who leveraged themselves to the limit.
@vkrgfan
@vkrgfan Жыл бұрын
No, it’s not “free money” they are financing the war in Ukraine at our expense.
@bernie6355
@bernie6355 Жыл бұрын
@@vkrgfan They kept interest rates low for more than 10 years and people became addicted to CHEAP money and over spent driving up prices. Central banks did the right thing in 2008 in lowering interest rates to stimulate the economy but they kept them way too low for such a long time even when the economy was booming. Ukrainian had nothing to do with this. Inflation was going to happen because of way too much money chasing to few goods. Please read a book.
@moewilson4605
@moewilson4605 Жыл бұрын
I know we are all concerned about rising interest rates, especially on mortgages. I was not in the market to buy a home until late 90’s when I was in my twenties so I missed the 80’s when interest rates were as high as 20%. A cousin of mine had a mortgage for five years at 20%. An older sibling was fortunate to have a kind employer that insisted on lending her the money for her mortgage so she did not have to pay the 17.5% interest rate. People today have no idea what double digit interest rates feel like when needing to borrow entails,. The real problem is how housing prices have crazily gone up compared to income. My first home in 1999 was a modest three bedroom townhome at $79,000. Four years later it was $149,000. Now, that same home is probably $400,000. Crazy.
@Amr1Elnaka
@Amr1Elnaka Жыл бұрын
A 25 year $79,000 mortgage on 20% would surprisingly cost $318,765 of interest in total! It's like paying 3-4x the original price. Is that realy what you went through or those calculations are off?
@cappertracker1486
@cappertracker1486 Жыл бұрын
Not comparable. Income vs cost of real estate is astronomically wider now. A 175k home then is close to 850k now. Wages haven't come close to catching up.
@CalCalCal6996
@CalCalCal6996 Жыл бұрын
Small percentage of a big number is bigger than a big percentage of a small number.
@shihamghouse6817
@shihamghouse6817 Жыл бұрын
You are never an owner unless you have zero debt on the home. You are sold into an illusion as a home owner and borrow as much as possible to achieve this illusion.This has made society so insensitive to debt that they are prepared to be in it to infinity.The general populace does not understand the amortization process where installment payments are 90-95% intrest. As a "homeowner" you pay for upkeep, you pay property tax etc, but the real owner the bank chips in nothing and sometimes gives you a HELOC to renovate and charge you more interst. The Bank wins no matter what!
@sonjagatto9981
@sonjagatto9981 Жыл бұрын
So very true!
@shaq9361
@shaq9361 Жыл бұрын
@@BellaBella-un8bl equity isn’t real like you said it’s just the bank lending you your own money and eventually they want to take it all from the consumer that’s why they try to keep these loans for so long. Vegas might as well start giving out mortgages
@graham9334
@graham9334 Жыл бұрын
Goverment owns your house&land called property taxes.
@sergueivergounov1961
@sergueivergounov1961 Жыл бұрын
Free market wants interest rate hikes. Nothing personal, just a business decision.
@shaq9361
@shaq9361 Жыл бұрын
If people are so scared of interest rate hikes they sound like they can’t afford it. And if the government is scared of interest rate hikes seems like we don’t live in a capitalistic society
@LoriTorre
@LoriTorre Жыл бұрын
"there are alot of places we can cut expenses". wow if I did not live in Toronto I would think that everyone was rich over here....Food banks are at an all time high ...that is reality.
@JohnJeep7
@JohnJeep7 Жыл бұрын
Convenient timing to post 😂
@ryanpeplinski1884
@ryanpeplinski1884 Жыл бұрын
Keep voting Liberal! 40% of the money Trudeau spent was not Covid related.
@shaq9361
@shaq9361 Жыл бұрын
Bots vote liberal, as long as you think people that don’t exists are voting liberal you’ll have someone to hate and liberals will keep getting put into power and no one knows a single person who voted liberal but they always win somehow
@sammann3577
@sammann3577 Жыл бұрын
Ukraine and Israel need our money 🤡🤡🤡
@gertieriemer7548
@gertieriemer7548 Жыл бұрын
Really appreciated this video. So well done. It's so important for those in this situation to get good advice like this, in a non-hyped way. No fear-mongering, just good points on the next steps to be taken without delay
@leafyeon
@leafyeon Жыл бұрын
this about that episode is... really well made like break it down with the moment of pause to explain to the audience
@gleet.5551
@gleet.5551 Жыл бұрын
Kl
@danhicks1232
@danhicks1232 Жыл бұрын
"Be fearful when everyone is greedy. Be greedy when everyone is fearful." - Warren Buffet. I'm going to be so greedy in 2023.
@marketdetective
@marketdetective Жыл бұрын
You need money to be greedy.
@hunterslaptop7024
@hunterslaptop7024 Жыл бұрын
Too early. People that signed for houses, cars etc in 2020 with Tiff's promise of low rates for the foreseeable future renew in 4 years with "I guess its not transitory' rates. Cars should be good in late 2023 however.
@dagothhyde7297
@dagothhyde7297 Жыл бұрын
@@hunterslaptop7024 you’re supposed to be able to pay even with a higher rate. Otherwise you shouldn’t have gotten the loan
@richardli5530
@richardli5530 Жыл бұрын
@@hunterslaptop7024 Nobody's more interested in your financial well-being other than yourself. Stop blaming others. What Tiff said meant Jack to me.
@Yolo942
@Yolo942 Жыл бұрын
You ain’t seen real fear yet, we could be still in a downtrend.
@Sprack
@Sprack Жыл бұрын
I wouldn’t laugh as he does 3:16.
@berkleystreetcapital3588
@berkleystreetcapital3588 Жыл бұрын
He likes seeing demise of customers.
@fandrew1242
@fandrew1242 8 ай бұрын
True, shows he is not considerate. I mean even if he isn't atleast don't show it on camera.
@chadpescod-realtor3308
@chadpescod-realtor3308 Жыл бұрын
Ontario has an incredibly low default rate. It's currently at 0.07%.
@graham9334
@graham9334 Жыл бұрын
This will change soon.
@BangkokVoiceCoach
@BangkokVoiceCoach Жыл бұрын
Victor has a lovely voice.
@jptrainor
@jptrainor Жыл бұрын
The bank puts a for sale sign in front of your house. Look at the early eighties for an example. We're on replay today.
@annalee5751
@annalee5751 Жыл бұрын
I remember the caravans of moving trucks emptying out the newly bought houses the year prior. Some of those houses were boarded up for years and years. This is CBC damage control. Tiff Macklem promised low rates for the foreseeble future, but we have a federal gov that has zero fiscal awareness, and even admitted the quite parts out loud. So while mr Funny Socks runs amok blaming Ukraine, Russia, racism, Pierre etc, the kids will believe whatever the CBC feeds them rather than using their own eyes and ears to see that its only countries like Canada getting smacked. Places like Sweden that didnt buy into the covid hype are doing more than just fine.
@shaq9361
@shaq9361 Жыл бұрын
Well the bank owns the deed so they can sell the house when they want. The “home owners” are just tenants
@annalee5751
@annalee5751 Жыл бұрын
@@shaq9361 Aside from the banksters, the taxes are a good indication that you dont own shyte.
@Hazara26
@Hazara26 Жыл бұрын
As long as you don't pay all the mortgage bank is beneficiary of your home and owner.
@Kreadus005
@Kreadus005 Жыл бұрын
Yeah this going to go over real well.
@imhere9745Elaine
@imhere9745Elaine Жыл бұрын
I was told by the owner that if I didn't get to work when I had the flu I would be without a job at the company ! Product came first !🇨🇦
@hunterslaptop7024
@hunterslaptop7024 Жыл бұрын
Im self employed blue collar for decades. Broke my wrist this summer and worked through it. Had to install a winch to assist with the heavy equipment I could barely lift before. I also have enough savings to last years without lifting a finger. Your young. Ive lived through tough times, but will spare you the uphill to and uphill back stories. Your going to be very thankful if you can hold onto your job because we hare headed off a cliff thanks to the irresponsible leadership of this country.
@lapraxi
@lapraxi Жыл бұрын
@imhere9745 I tell my employer I'll be there in 20 minutes flat then I mute my phone and continue napping
@vkrgfan
@vkrgfan Жыл бұрын
People won’t afford to retire in North America, this is ridiculous, debt outrageous unfair rules, it’s basically capitalistic slavery.
@Redspottedbug
@Redspottedbug Жыл бұрын
I was told by a school bus driving job , that even if I am puking , I need to drive that bus and just bring a bucket….can you imagine !
@markkaganovsky5676
@markkaganovsky5676 Жыл бұрын
Thanks for making these CBC, as a near-first time home buyer this video shared some very helpful knowledge!
@zoltanb1221
@zoltanb1221 Жыл бұрын
Only 5 million mortgages? Maybe another important question how many HELOCs are out there? What happens if a HELOC is delinquent?
@zombienectar
@zombienectar Жыл бұрын
Easier to get a home owner out than a sqatter.
@JussaBehbi
@JussaBehbi Жыл бұрын
Can’t help but look at all the trinkets in the background. Neat!
@fremontpathfinder8463
@fremontpathfinder8463 Жыл бұрын
So I dont get it. The rate was 1.15 percent when they bought the home. What is the length of their mortgage? Why does Canada not have stable interest rates on their mortgages. In the US my mortgage is 30 years at 2.5 percent. Why would anyone buy a house with that kind of system?
@xeero24
@xeero24 Жыл бұрын
For many Canadians it is when not if.
@Chr0nEc
@Chr0nEc Жыл бұрын
Okay - so the examples are terrible. Why not cover worse case scenarios like people that bought in Feb-April 2022 - overpaid by 200-400k. Now their mortgage payments are through the roof and dealing with negative equity
@screugneugneu1
@screugneugneu1 Жыл бұрын
With population growing faster than houses, some will have to go live in the street
@semaph0re
@semaph0re Жыл бұрын
Actions have consequences. Enjoy the aftermath of lockdowns, C19 stimulus checks, etc.
@hbarudi
@hbarudi Жыл бұрын
$750,000 for an apartment? Like shown in that picture? We are buying a house for half that price in Ohio... Someone who makes $145,000 yearly cannot afford to do a mortgage of this size. Is there a house with lower price on it?
@susane1577
@susane1577 Жыл бұрын
$740,000 is the average condo price in Toronto. Unfortunately, prices for any kind of real estate in Canada is astronomical, doesn't make much difference whether you are in a big city or not. Overall, $739,000 is the average home price for the whole country. So sadly this scenario is pretty accurate.
@clownbroadcastingchannel7335
@clownbroadcastingchannel7335 Жыл бұрын
Less the currency conversion
@shaq9361
@shaq9361 Жыл бұрын
@@susane1577 yesterdays price is not todays price, and unfortunately for Canadians they seem to think real estate only goes up and a lot are in for a world of hurt.
@graham9334
@graham9334 Жыл бұрын
Cnd dollar very weak &about to get much weaker.
@Knowledgepacifies
@Knowledgepacifies Жыл бұрын
One important thing, is that 1Million house is not that worth anymore
@rabeasaab7631
@rabeasaab7631 Жыл бұрын
Suspend the personal income tax on work.
@markhoffman
@markhoffman Жыл бұрын
What happens when CBC defaults after taxpayers stop funding them?
@rexyoda
@rexyoda Жыл бұрын
You guys are taking vacations and have a car?
@acadian76
@acadian76 Жыл бұрын
Why do they keep talking about 30 year mortgages? I thought that in Canada the maximum length of a mortgage is 25 years and has been so since 2008. I know previously you could get up to 40 year mortgages and that was taken away several years ago.
@parthvipin
@parthvipin Жыл бұрын
I think when we do 20% downpayment then 30 year option comes up but the interest rate is to be renewed every 1,2,5, max upto 10 years depending on what you opt for is what i have noticed.
@canadianjatti
@canadianjatti Жыл бұрын
they are taking about amortization period not the term
@DB-bw5fz
@DB-bw5fz Жыл бұрын
@@parthvipin It’s a combination. When you initially buy, you might sign a 5 year fixed rate term, based on a 25 year amortization schedule. After 5 years, your principal amount should be lower, and you will then re-negotiate your term based on the remaining amortization period and principle amount. Now let’s say you cant afford the new 5 year term payments based in 20 years remaining…..you can re-negotiate the amortization period as well, essentially lowering your payments. After year 10, you may be in a position to now drop your amortization down to 10 years and lock in your rate for 10 years. This is a stark contrast to US mortgages which are primarily 30 year fixed rate, open term mortgages. There, you can plan to pay it off early, or run it the full 30 years knowing you won’t end up with rate hikes down the road. The other advantage is that if rates do drop, you can always refinance at a lower rate.
@indram5384
@indram5384 Жыл бұрын
Its ridiculous, how can we afford it all 😮
@cappertracker1486
@cappertracker1486 Жыл бұрын
What needs to happen for a bank to cut you from the sale process? You would have to stop making payments for that to happen I'm sure.
@slotreality
@slotreality Жыл бұрын
Scary thought.
@PKDN215
@PKDN215 Жыл бұрын
Banks arent raising mortgage payments like that for everyone. You you might on a variable rate mortgage that has triggered recently but some folks i know are only being forced to pay the minimum amount to cover the interest for now. this may come back to haunt them at the next renewal since no principle is being paid but it will avoid foreclosures
@miriamm2978
@miriamm2978 Жыл бұрын
My mortgage specialist at a Can. bank is calling her clients this month to let them know their new renewal rate will mean a hike of $800 (for instance on a million dollar home with a minimum downpayment ) at the new rates. I can't imagine swallowing that bite of reality!
@vishal27vibes
@vishal27vibes Жыл бұрын
Awesome video, cheers from Australia
@mick3366
@mick3366 Жыл бұрын
This was very informative. Thank you
@deannakeepper4517
@deannakeepper4517 Жыл бұрын
I’m very confused as a first time homebuyer and right after we finally closed on our new build and interest rates here in Oklahoma are 6.8 and that was bought down so our mortgage is 2019.00 per month and we are confused because we were behind and made that payment within 50 days of it being due and then our next payment we were two weeks late on and they are saying our default status goes to day one we were late and the payments made since then don’t count or restart the time unless we are not late on anything period so for instance saying you miss July payment then August payment came due and it’s end of August and you’ve paid the July payment and the August payment was scheduled with the lender for 9/7/23 can they say we have been in default for over 60 days if we aren’t more than 30 days behind? I would have thought once the July payment is made then you’d only be in default if you didn’t pay July and didn’t pay August? But we paid July and have the August payment scheduled so we aren’t even 30 days late on August payment but they are saying we are still in default pressuring us to short sale?
@jean-bernardjoly5920
@jean-bernardjoly5920 Жыл бұрын
Knowing it’s historically lowest rate, why wouldn’t you lock the mortgage? If you’re home economics illiterate, you shouldn’t sign contracts that can ruin your family.
@shaq9361
@shaq9361 Жыл бұрын
They thought interest rates would go even lower then they can pay less when the refinance, so basically greed over logic.
@Abdul-nk4dy
@Abdul-nk4dy Жыл бұрын
This guy needs more work as a reporter
@jonellis7089
@jonellis7089 Жыл бұрын
I thought I cooled off but I just can’t get over how bad this message is. This is basically a video letting people off the hook who made completely ridiculous choices with their money. At one point do people take ownership for poor spending/poor decisions? Why is the message telling people to borrow more rather than to work more? We’d be a different country if that was the approach. Instead we continue to look for people and institutions to blame when we screw up. Makes me sick
@philipanderegg5973
@philipanderegg5973 Жыл бұрын
Did I hear that right $500/week for food? I spend that maybe over two months. How do you spend 500 a week on food? I think this guy has problems
@imark2569
@imark2569 8 ай бұрын
8:33 “the lenders are there to help you” ❎❎ They’re in the business of making money ✅✅ Not the same thing.
@HalifaxComputersRepair
@HalifaxComputersRepair Жыл бұрын
much better to buy 5th wheel rv , mortgage free ....no bank credit owning or you can buy your self Tiny home ....who heck wants to deal with greedy bank , and in few yrs , you might end up loosing your house to the bank , think twice before making a big leap !
@TheWalamala
@TheWalamala Жыл бұрын
lol real home OWNERS don't have mortgages
@sonjagatto9981
@sonjagatto9981 Жыл бұрын
Exactly!
@sammann3577
@sammann3577 Жыл бұрын
Yeah mortgage is renting with interest
@aminpop6674
@aminpop6674 Жыл бұрын
I love to see more rates high 7.5 will work everything is sky high
@jacobburton25
@jacobburton25 Жыл бұрын
If everyone just default on mortgages and not pay house be half the price better for everyone that's the point 🤡🤡🤡
@DarthVader-ym9mk
@DarthVader-ym9mk Жыл бұрын
" not much left over" this is why people burn the house down !!!!!
@rabeasaab7631
@rabeasaab7631 Жыл бұрын
Suspend the carbon tax
@glenmellan8018
@glenmellan8018 Жыл бұрын
All these young men who can’t afford a home, what are young women to do?
@sammann3577
@sammann3577 Жыл бұрын
Be empowered and independent and take charge
@willkorslick8126
@willkorslick8126 Жыл бұрын
You look like you are happy about it. It that what you want
@shaq9361
@shaq9361 Жыл бұрын
He is more business for him
@jimlawrence344
@jimlawrence344 Жыл бұрын
Nobody gets titles on land, you get a roll number a description of the property and the tax bill. Only the owners of every country how true title on land. Yes you read correctly. Every country is a privately registered Corporation or company held by private individual stakeholders. Believe it or not, if central banks are all privately owned as well. Do you have the illusion of private property ownership just like you have the illusion of Rights, you simply have privileges, and since they are pillages they can be taken away from time to time, just as your owners good to your ancestors many times over. Every economic boom bust cycles of 200 BC were generated by government policy with the intention I'm transferring massive wealth from the majority to the minority. The entire political processes of the entire world serves the private stakeholders that have every country registered as private companies and corporations. Now you're beginning to feel a little bit weird right? That's okay oh, it's a normal reaction
@Hazara26
@Hazara26 Жыл бұрын
If nothing is left with me then let them sue me what they will get empty pockets. That is why loan and debt is very bad because you can't do anything to anyone due to being sued and you will lose your assets whatever you have. When you have nothing you are happy very true.
@kaze987
@kaze987 Жыл бұрын
Good video
@LaxfanLaxfan
@LaxfanLaxfan Жыл бұрын
They want u to fail that's all
@okzzvil7617
@okzzvil7617 Жыл бұрын
When you buy a house, Make sure your interest rates is fixed within the specied time. This is the problem when the interest is not fixed. Market and banks will play. This is scary. No way.
@vkrgfan
@vkrgfan Жыл бұрын
This is why US housing market crashed, they hiked the interest and people couldn’t meet the monthly payment so they defaulted. This is a scam that Rick Elites play every decade or so.
@josephliyen
@josephliyen Жыл бұрын
He looks so much like Simu Liu!
@burberryclaretred6676
@burberryclaretred6676 Жыл бұрын
I’ve already gone in overdraft
@kenjoris475
@kenjoris475 Жыл бұрын
Ya we can thank Trudeau for that
@njam101
@njam101 Жыл бұрын
The problem started long before Trudeau was PM.
@kenjoris475
@kenjoris475 Жыл бұрын
@@njam101 and hes had 8 years to fix it. Liberals waste money so when conservatives get back in power they make necessary "cuts" of things we didn't need in the first place. Do you work in an office by chance?
@njam101
@njam101 Жыл бұрын
@@kenjoris475 Maybe it was the consumers who didn't need such expensive homes in the first place. How is the government at fault? I work from home.
@kenjoris475
@kenjoris475 Жыл бұрын
@@njam101 there's no way homes should have shot up in price like that. People gotta live somewhere so they'll pay. The bank of Canada drops the intrest rate and Justine tells the country that the federal government is taking a hit so we don't have too and starts printing money
@njam101
@njam101 Жыл бұрын
@@kenjoris475 The market economy allowed prices to rise. Are you suggest government regulation and interference?
@bloodessdk6530
@bloodessdk6530 Жыл бұрын
WOW, THAT'S RARE, White Man on CBC it's been a while since
@burberryclaretred6676
@burberryclaretred6676 Жыл бұрын
Don’t know what to do
@redsable6119
@redsable6119 Жыл бұрын
Ya we can't have the banks making less money...
@ricgunn1439
@ricgunn1439 Жыл бұрын
People and gov't are the problem not banks. Waa I need a subsidy, I'm a victim Waaa. It's never my fault Waa.
@KS-qy5lt
@KS-qy5lt Жыл бұрын
these mortgage brokers - talked to 6 brokers every one of them suggested variable 😅
@shaq9361
@shaq9361 Жыл бұрын
I wonder if they make more commissions from fixed rates or variable rates? Realtors and mortgage brokers aren’t you’re “friend” they run a business
@graham9334
@graham9334 Жыл бұрын
You will win lt. The fact is our economy is now dependent upon low rates like a heroin junkie just buy while everyone panics then realises they cant keep them high without implosion and kick the can down the road
@vince8520
@vince8520 Жыл бұрын
« The lender is there to help you » please….
@TwinworldGameReviews
@TwinworldGameReviews Жыл бұрын
If you can't afford to pay your mortgage, couldn't you file for bankruptcy? Thought I heard that when someone files for bankruptcy, they get to keep the home since they need a place to live and get to keep their vehicle for driving to work.
@ctawab
@ctawab Жыл бұрын
Work on a cash job
@franklinfleming1237
@franklinfleming1237 Жыл бұрын
Wow allot of paid pro cbc bots here.
@zooedca
@zooedca Жыл бұрын
I've heard it can take up to a year.
@abdulzz8218
@abdulzz8218 Жыл бұрын
Soon you'll own nothing and still be happy folks
@Mack697
@Mack697 Жыл бұрын
My first experience with her gave me the assurance that has made me to invest without fear of losing.
@markfrost1375
@markfrost1375 Жыл бұрын
Unless your God god or like 0:02 me ..future contracts are bull and void ..- x
@ms9714
@ms9714 Жыл бұрын
you can thank trudeau for this mess.
@njam101
@njam101 Жыл бұрын
Harper as well.
@ms9714
@ms9714 Жыл бұрын
@@njam101 Harper has nothing to do with what trudeau does. past is past.
@njam101
@njam101 Жыл бұрын
@@ms9714 The past is past?!? That tells me that you don't want to discuss the realities of the Harper years.
@589supra
@589supra Жыл бұрын
the guy doesnt even mention to maybe even move out, and airbnb or rent it out to cover the costs. Live somewhere cheaper in the meantime
@richardli5530
@richardli5530 Жыл бұрын
As a bank shareholder, I welcome the opportunity for the bank to rack in more money from people who binged on debt.
@sukhjitsingh8269
@sukhjitsingh8269 Жыл бұрын
banks stocks are over priced 70%
@richardli5530
@richardli5530 Жыл бұрын
@sukhjit Singh Not when the P/E is less than 9 and yield of 6%. Actually, my yield is 9% as I bought them back in 2020. Think of it this way. Can you buy a million dollar house and rent it out for 111,000 dollars a year for a P/E of 9? Either the bank stock is too cheap or th house is too expensive. Which is it?
@cammassey7207
@cammassey7207 Жыл бұрын
sorry bankers can’t work more than the 75 hour week that im working
@shaq9361
@shaq9361 Жыл бұрын
Then sell if you can’t afford it to someone who can. It’s called capitalism
@zcorpalpha2462
@zcorpalpha2462 Жыл бұрын
🥃🔥🤣💴🤷
@babitabharrat8351
@babitabharrat8351 Жыл бұрын
I never missed a payment or have a late payment or any payment holiday. My mortgage was up for renewal in October 2022 I received a letter from my mortgage company saying they are going to terminate my mortgage. I called them and asked why they are doing this, they refused to tell me. Now they hire a lawyer and are threatening to sell my property. Since I never missed a payment or default on my payments is this legal does anyone have any information or knowledge about this?
@drewsykes8231
@drewsykes8231 Жыл бұрын
wah/wah/wah/boohoo
@ricgunn1439
@ricgunn1439 Жыл бұрын
I'm a victim.its someone else's fault Waa 🇨🇦. A nation of butchers and complainers.😭
@njam101
@njam101 Жыл бұрын
Are those your pronouns?
@abdulzz8218
@abdulzz8218 Жыл бұрын
Go team liberals😂
@riyadmoe8718
@riyadmoe8718 Жыл бұрын
Raise the rent on your tenant.
@abetilocos58
@abetilocos58 Жыл бұрын
people there is more to life, It is not all about owning a condo or a house why put yourself in a predicament like sleepless night on how to pay your mortgage for 25-30 years you're just making the banks richer
@3rayallen
@3rayallen Жыл бұрын
I didn't know Simu Liu (Shang Chi) was also a mortgage broker. Cool
@levonlyons
@levonlyons Жыл бұрын
I nevwr owned a house or had mortgage I want to make good money so I can afford my first house in this life before I'm off the Earth
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