tag:blogger.com,1999:blog-5936637281134795592.post5007403844485294449..comments2024-03-08T08:55:52.985-08:00Comments on Whispers from the Edge of the Rainforest: Pardon?Unknownnoreply@blogger.comBlogger6125tag:blogger.com,1999:blog-5936637281134795592.post-3241226581003401132010-12-19T11:19:46.349-08:002010-12-19T11:19:46.349-08:00If the loan was co-signed (by her parents), she wo...If the loan was co-signed (by her parents), she would breeze through the approval process.thedesignaddicthttps://www.blogger.com/profile/13072267514638721139noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-11556954006849191492010-12-11T18:42:53.281-08:002010-12-11T18:42:53.281-08:00Of course, she had to be a single mother, let'...Of course, she had to be a single mother, let's pretend as if two parent families are not over extending themselves too.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-28858005748909113022010-05-21T10:29:12.564-07:002010-05-21T10:29:12.564-07:00I'm not sure how she got the mortgage but I su...I'm not sure how she got the mortgage but I suspect they included things such as child support, child tax benefit (which would be minimal for someone with a salary of $64k) and probably a basement tenant. But what happened to the new rules, everyone having to qualify at the posted rate of 6.10%? Sure, she could get a 1.75% variable, but would certainly NOT qualify at 6.10%! What's going on here?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-68100675847994670612010-05-17T06:44:24.746-07:002010-05-17T06:44:24.746-07:00I heard that the bank's hike in fixed mortgage...I heard that the bank's hike in fixed mortgage interest rates was due to the banks wanting to cover their asses in case the BOC raises its rate June 1. The thing is, many banks offer a 90-day rate hold on mortgage rates, so they hiked them preemptively in order to guard against having to hold a lower rate for 3 months after the BOC raised its rate. Not sure if this is actually correct, but it makes sense to me.<br /><br />Also agree with the second comment - 695,000 on a 64,000 income does not make sense. Something in your story is missing. No bank I've ever dealt with would sign someone up for that.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-74930956022216070172010-05-15T18:58:29.560-07:002010-05-15T18:58:29.560-07:00How can this be? What happened to debt service ra...How can this be? What happened to debt service ratios? Her payments would be over $3000.00 per month. Probably 80% of her take home pay if not more!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-87949923504575256132010-05-15T07:46:54.956-07:002010-05-15T07:46:54.956-07:00Not that I wish ill will upon anyone, but the soon...Not that I wish ill will upon anyone, but the sooner rates go up, the better. All the current situation does is reward gamblers, set up the ignorant, and punish people with real income and savings. <br />I suspect that the way this will play out is that money will continue to cheap for longer than we suspect, and the change will occur swiftly and without warning.Paulnoreply@blogger.com