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Canada Adds Guidelines for Banks to Prevent Mortgage Defaults (www.bnnbloomberg.ca)
submitted 3 years ago by to c/canada@lemmy.ca
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Canadian banks need to take steps to assist mortgage holders who are struggling to stay above water after a rapid spike in interest rates, according to new guidelines issued Wednesday.

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[–] 1 point 3 years ago

there are loop holes for primary residency and they all know how to work around that. Because many legislators are landlords/business partners, they won't pass a law that shot themselves in the pocket.

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