Is a wave of mortgage defaults coming to Canada?

The rise of people using private lenders for their mortgage in Canada may spell trouble amid falling house prices and rising interest rates.

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40 comments

  1. JT told injured veterans that they are asking for more than Canada can give, then turned around and helped fund a war in another country (non NATO) on a completely different continent…

    1. @clanholmes I simply pointed out facts/truth….

      Are you familiar with the mefloquine affair?

    1. @Bill Clay I stated that Trudeau put the country into huge debt and you think that I like him. Wow that is so stupid of response.

  2. If someone is looking to buy a place wait another year and there will be lots of properties to pick from at up to half off

  3. Someone in Canada is making billions, life in in this country is incredibly expensive, and I’m sure you’ve seen how much money the owners of supermarket chains are making every quarter, it’s probably the same with developers, bankers, insurers, you name it.

    1. A co-worker of mine rents a condo unit. The builder sold units, and the unit owners are renting them out, not living in them. So my co-worker is paying TWO property owners with her rent. Her rent for a 1.5 bedroom apartment is higher than the mortgage on my newly built 3 bedroom home.

  4. I’m 40 and will never be able to own a home. I don’t have kids either so I’m just staying solo.

    1. Live in an RV… Or join a band and travel the world in a van.
      Save money and pay cash for a small cottage in the woods.

  5. Forget individual defaults in Canada….if you look at Canadian banks, even with increased loss provisions, they don’t have anywhere near the assets necessary to cover what could be the largest wave of defaults in Canadian history.
    Oh, and if the banks go down….see the CDIC fine print….they can take your deposit funds.

  6. Wait till the news finally catches onto the fact that most of the new mortgages are done through fraudulent income.. add this to the ridiculous “fixed rate payment adjustable” mortgages ppl are about to experience PAIN

  7. 2:48 always read the fine print 🙄
    And who on earth is capable of understanding the fine print?!
    Unless maybe you have a PhD in Law!

    1. Actually, the disclosure documents in Canada for all loans, even private are extremely concise and clear.

    1. @Judy I have the App already installed and will contact him immediately. Thanks for your swift response

    2. Wow!!! I thought I was the only beneficiary of Mr Brian trading services. His technique and strategies are the best.

    3. @grumpy old Jeff Same here, I’ll praise Mr Brian over and over again because he has great skills, i started with $2000 and after 2week i received a returns of $6,000 then i continue with him ever since he has been delivering.

    4. @Judy I just sent him a message now. With all the recommendations I’ve seen here, I’ll definitely give it a try

  8. If you actually thought your 40 year old 3 bedroom bungalow was worth $1 million when you bought it then you deserve what’s coming to you.

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