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Mortgage Broker News | 10 Feb 2016, 08:15 AM Agree 0
The practice is prevalent in the area since Alberta is the only region to offer non-recourse residential mortgages on a wide scale, experts said
  • Dale Koeller | 10 Feb 2016, 10:53 AM Agree 0
    Strategic Defaults are not plaguing the Alberta market. We are in a downturn in this province, and there is downward price pressures in the market, particularly in higher end homes, however there is not a wholesale strategic default problem in Alberta at this time.

    Mortgage arrears in Alberta is up over last year, and last year was at record lows. Alberta mortgage arrears was 0.28% at date of last report in October, compared to Canada's 0.27%.

    Please balance your articles with facts, not fear.

    Dale Koeller
    Lender in the Alberta Market
  • Willing to eat my hat | 10 Feb 2016, 05:26 PM Agree 0
    Wind usually blows west to east across Canada... But it may be different this time. When those ol' Mortgage Default Blues hit the lower mainland of BC, they will be flying away & recourse or not defaults will rise & values will drop...if you don't believe me, mark this day on your with a reminder to look at Vancouver prices a year from today.
  • Dale Koeller | 14 Feb 2016, 04:41 PM Agree 0
    Definition of prevalent: widespread in a particular area at a particular time.

    Note: the practice of strategic defaults is by far prevalent in the Alberta market. While there is downward pressure and fear of an increase in mortgage defaults, we have yet to see any evidence of widespread defaults, quit claims or strategic defaults.

    Dale
    Alberta mortgage lender
  • Kevin R | 14 Feb 2016, 10:49 PM Agree 0
    CBC needs to do a little research before they sensationalize things back to the 80's. Big difference in lending since the 80's. They forget that all the mono-line lenders insure their conventional advanced mortgages & just because the borrowers dont pay the premiums doesnt mean there is no default insurance of which there would indeed be covenant. This is very misleading.
  • nick | 15 Feb 2016, 07:20 AM Agree 0
    what a joke of a system. Why would insurers get involved in alberta in the first place. Anytime there is a turn in the market someone with minimum down says adios and moves on without recourse. Did not know that was the case or i would have purchased a few homes there as well. Why not.
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