Canadian Foreclosures
Poll: Are you Canadian, and how does your mortgage work?
I am curious how mortgages usually work or if they are all different? In particular, can you lose more, if things go bad and there is a foreclosure or whatever, than the actual property? Say you have put 100k equity into your house, and its supposed to be worth 200k. But then say prices crash and the bank sells the house for 30k. Are the terms of the mortgage such that you then owe 70k? If you own another property, or have 70k cash lets say, can the bank collect from you? I assume its the same way in USA so anyone please answer.
mortgage workusuallyall different. In particular70k
Vancouver Foreclosure
|
|
Flipping Houses For Dummies $8.99 “This book is designed for realty investors who want to profit from buying below market, making cosmetic improvements to add value, and then quickly reselling. But real estate agents and home buyers should also study it because of the valuable insights offered by a longtime, very successful real estate broker. On my scale of one to 10, this superb book rates an off-the-chart 12.”—Robert BrussYou… |
