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Mortgage Broker News | 29 Apr 2014, 09:01 AM Agree 0
The new CMHC premium hike for default insurance – coming into effect this Thursday, May 1 – is unfair to those who want to make a profitable business, argues one investor.
  • A Broker | 29 Apr 2014, 11:33 AM Agree 0
    Your an investor? If you can't work your way through a simple thing like that should you be in the business and are you truly an investor or just someone who wants to put their money into real estate with government backing.
  • Tim Brierley | 29 Apr 2014, 01:36 PM Agree 0
    Seems to me the premiums used to be higher than they are even now before the government dropped them a few years ago. If you don't like the premium, put more money down. CMHC does not and should not have a sliding scale with which to apply a premium on a case by case basis. Either you are qualified or you are not. If you have a 'bad record' you should not qualify for a CMHC mortgage, regardless of the premium. Not sure who this 'investor' is, but his comments are disingenuous and of questionable value in a legitimate article about mortgage changes.
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