[Subscribe to Daily Digest] |
I assumed that most mortgages these days were assumable? maybe the rules are different in Canada? it seems common to do that + also to blend and extend to make up differences in amounts + terms going from seller to buyer... maybe this is different than what you are talking about... I mean as a normal sale... seller can also take their mortgage with them to a new home if it still qualifies + meets their needs (all of this to avoid penalty on breaking a longer term)... I remember (this would be late 90's) some homes advertising their low rates with which to blend + extend as a selling feature!
James...
posted by 69.63.61...
No Site Registration is Required to Post - Site Membership is optional (Member Features List), but helps to keep the site online
for all Saabers. If the site helps you, please consider helping the site by becoming a member.