market tagged posts

Looking at the Brighter Side of Mortgage Foreclosures Canada

In secured loans or mortgages particular assets are needed that will serve as collateral for the borrowed amount by the applicant. In most cases, these secured loans often deal with much bigger amounts compared to unsecured ones. With such big amounts, houses are often regarded as a form of security for the lenders. But in the case of a borrower not being able to keep up with his mortgage obligations down to the very last time, his house is repossessed to cover for the remaining amount he has failed to meet. In Northern America, the number of mortgage foreclosures Canada is growing steadily.

The reason behind the steady rise of mortgage foreclosures Canada is because a lot of borrowers are now being seriously hit by a variety of financial problems due to the whole global recession thing...

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Do mortgage papers list the terms of foreclosure proceedings?

If I go through foreclosure, I want to know what happens such as what happens to the balance of the mortgage owed. My mortgage is with Citimortgage and it is A paper fixed 30 year from a few years back if that makes any difference to anyone who may know. I lost my job and it’s only a matter of time before I lose my house, which is worth 40% of my mortgage balance so I don’t have the option of selling. Please help I am stressed out beyond words to describe it.
I regret all the home improvements I made – adding baseboards, hardwood floors, ceiling fans, remodeled kitchen. What a waste of money to say the least. I really don’t know how to get over this or what to expect.
Not to mention all my savings I had put into the downpayment...

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Is America the only country going through a crisis?

is canada or britain or any part of europe for that matter, going through any similar crisises like we are?

increase in gas prices
increase in foreclosures and rent
stock market plunge
increase in unemployment rate.

etc. the list goes on…i guess we probably have it the worst.

No but our economy is SO BIG it drives the train.

America sneezes and the whole world catches cold…

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