Collateral Mortgages - Beware
October 25th, 2013
Collateral Mortgages
It was announced that a major Canadian Lender would be registering all new
mortgages as “collateral
mortgages”. Since, several others have followed suit.
· So what exactly is a “collateral mortgage?”
1.
It’s a loan attached to a promissory note and
backed up by the collateral security of a mortgage on a property.
2.
Collateral ...
