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Mortgage Broker News | 20 Jun 2011, 08:10 AM Agree 0
Finance Minister Jim Flaherty is offering brokers a respite from any new mortgage rule changes like those introduced in March, suggesting he’s happy with slowing demand stemming from those spring amendments.
  • AB Broker | 22 Jun 2011, 03:27 AM Agree 0
    It's nice to hear that Mr. Flaherty is putting a freeze on mortgage rule changes. I guess that will be his excuse for not implementing the one change that actually would have benefited the Canadian homeowner. Anyone else remember him promissing to ammend the rules regarding IRD penalties? Guess those plans got shelved once the banks told him how much that would dig into their profit margins.
  • Wayne Campbell, AMP Invis-Prince George | 22 Jun 2011, 09:25 AM Agree 0
    Whether an ETO should be 85% or 90% isn't the issue: The problem is that so many people are over their heads with credit lines and credit card debt. With minimum payments being so minimal, people are way out on thin ice long before they become aware. If Mr Flaherty took a long look at what is eroding people's equity, he would make all minimum payments 10% of the balance. Then people would discover they have a problem when something could still be done to help them.
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