End of the 40 Year Amortizations and Zero Down in Canada

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This just in from Real Estate Network Group member, Chris Baxter. By the way, Chris was showcased in the first issue of Canadian Real Estate magazine a few months ago. Michael Flaherty has done it again. An article in the Globe and Mail in the Report on Business section. They are discontinuing the 40 year amortization and reducing it to 35 years with a minimum 5% down payment. Below is the link to view the article online:

http://www.reportonbusiness.com/servlet/story/RTGAM.20080709.wmortgagestaff0709/BNStory/Business/?page=rss&id=RTGAM.20080709.wmortgagestaff0709

Thanks for the heads up, Chris.

July 9, 2008

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