Month: May 2009

May 25, 2009

Penalties assessed due to mortgage contract cancellation. Are they valid or ultra vires?

Financial institutions have many mechanisms to discourage borrowers who wish to benefit from the current low interest rates.
Borrowers wishing to terminate their mortgages are now facing several obstacles even though there exists a law that limits a penalty for a breach of a mortgage contract to three months interest.

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May 1, 2009

Montreal bucks trend as home prices increase by 3.2%

Reading the newspaper this week was truly an eye opener, or was it? Headlines in the Montreal Gazette shouted “Montreal home prices climb”, while the national trend actually indicated the contrary. There has been a country wide decline in home prices to the tune of 4.1%, yet in Montreal we have witnessed an increase of […]

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