You’ve saved up for a long time and when you thought you’d start feasting on your sweet home then recess takes America by a storm. Housing crisis is bleeding and Canada bears the unfortunate market condition. It’s like Canadians have no choice but to loose their home, land, among other recreational properties.
Sub prime mortgages are the main cause of this meltdown and as it turns out, some people already fear loosing their homes due to foreclosure.
Canadian banks have to pay with their noses by selling homes of individuals who cannot plainly repay their loans. Home owners, realtors and agents are badly beaten with the situation.
With the current world recess few Americans have wonderful homes. Whether you irk a living in New Brunswick or somewhere in Newfoundland, hard truth is that, real estate players are gripped with horror stories of loosing their homes.
By Jeff on Jun 12, 2011 | Reply
You’re kidding? Right?
I’m a Canadian, own a house in Canada. No fear of foreclosure here. Our economy is climbing, our interest rates are low and new laws pertaining to the sale of homes keep people from getting more credit than they should. No one is feeling beaten… in fact just the opposite. My bank recent helped me to lower my interest rate, lower the number of years left on my mortgage and help me in getting rid of my debt by my retirement target date. So… no… no issues here and no horror stories of people losing homes.
Of course, you don’t supply any such stories either, which shouldn’t surprise me. No proof, no truth, don’t buy what they’re telling.
Nice try though.