Topaz Posted January 17, 2011 Report Posted January 17, 2011 Flhery's has new rules concerning buying a house and the mortgages. He says all this is needed to curb personal debt. For example, 35 year mortgage down to 30, which I have no problem. I'm not sure when this take effect and who is included. Is it mortgages in the future or it is ALL mortages. One rule, I don't think Canadians will like is the withdrawal of its insurance backing the lines of cerdit secured on homes, such as equity lines of credit. IF this ruled is for ALL homeowners right now, I think the Tories have a problem with this one. It seems with this rule they are more worried about the government and the banks than the homeowners. I also think, the Canadian being able to buy homes will be reduced to the well-to-do. http://ca.news.yahoo.com/flaherty-unveils-rules-aimed-curbing-soaring-household-debt-20110117-051119-863.html Quote
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