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Mortgage Broker News | 27 Nov 2014, 10:16 AM Agree 0
A phenomenon that brokers have already started to question is raising eyebrows at the IMF, now suggesting that the growing use of uninsured mortgages could pose a problem.
  • Holly | 27 Nov 2014, 02:39 PM Agree 0
    The headline says "Unsecured" Mortgages ... is that not meant to be "Uninsured"?
  • @kiltedbroker | 27 Nov 2014, 02:42 PM Agree 0
    Great question Holly, I was wondering exactly the same thing. It was the headline that caught my eye for sure...
  • Holly | 27 Nov 2014, 02:47 PM Agree 0
    Exactly! "Unsecured" mortgages should raise more than the IMF's eyebrows!
  • @kiltedbroker | 27 Nov 2014, 02:48 PM Agree 0
    I would be interested in securing one of those for myself! lol
  • Kuldip S Panesar Homeland Mortgage Corp. | 27 Nov 2014, 03:04 PM Agree 0
    What does it mean unsecured mortgage ? If it is unsecured then it is not a mortgage . Let the IMF make it clear the unsecured mortgage ..........
  • Angela Wong-Liao - Invis | 27 Nov 2014, 09:24 PM Agree 0
    I believe "unsecured mortgage" means our real estate market is overvalued at this time and with all time low interest rate, the mortgages that lenders put on their books at this time may become over 100% financing when real estate value dropped, especially when interest rates started to increase in future. This happened 1990 to 1996, the last Ontario recession, real estate properties that were appraised in 1989 were substantially higher, some properties dropped by 40-50% during our last recession. The property value differences becoming "unsecured mortgages".
  • Ray | 28 Nov 2014, 08:13 AM Agree 0
    Yes, I don't get it!
  • Mary | 28 Nov 2014, 09:10 AM Agree 0
    Don't you get it? It's simple Uninsured or Unsecured = Canadian Real Estate Circus.
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