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Mortgage Broker News | 21 Oct 2010, 09:48 AM Agree 0
When interest rates rise, 10 per cent of Canadian households could be in financial trouble, according to a TD Economics study.
  • c oncerned | 23 Oct 2010, 05:07 AM Agree 0
    If TD and Craig Alexander are so concerened about debt increasing so rapidly why are they signing up their clients with a collateral charge? So they can "refinance without incurring legals"? What a joke....TD looking so concerned here but the truth is they are enjoying this....the more debt Canadians have the more money they make! So come on everyone lets sign a collateral mortgage!
  • RIGHT ON | 23 Oct 2010, 05:54 AM Agree 0
    Well said on the last comment. Truly, who do they think they are?
  • Bob | 25 Oct 2010, 11:49 PM Agree 0
    Economist's try to predict what's happening in our economy-(which by the way is one of the best in the world today)and for years banks have been lending out money, which is exactly how they make more money.This is not rocket science.
    Canadians themselves must decide what they need,what they need to borrow and how far in debt to go.A collateral mortgage is a great way to borrow-you have good credit,you have equity in your biggest asset and if you really need,and can afford the payments-go and get a loan or a mortgage!!!
  • Jim | 28 Oct 2010, 01:01 AM Agree 0
    Let's face it...If the household debt of canadians are to increase then why does TD Bank want to give them the opportunty to burden themselves even furthur. It makes no sense why a bank is doing this unless they want to have customers for life even if the customer does not want to be. As mortgage professionals we must look at better options then the collateral mortgage that TD Bank is offering. And by the way there a lot of more better options for the client then this collateral mortgage offer. This option is not a good option for the client.
  • Art | 01 Nov 2010, 12:02 PM Agree 0
    Ignore the economist's warning at your peril. Ask the American householder. They were warned and ignored the "road signs". Debt is only a problem when you can't afford it. Everyone can afford it and they realize too too late they can't.
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