.. canuck banks wont foreclose on clients..

[X]

thats the word from within the system.
seeing the carnage caused by banks down south foolishly forclosing on clients, Canadian banks are are offering "hardship" waivers for mortgage payments. This will include the ability to miss 4 to 6 months of payments and refinancing during the closed periods without penalties.

if u get laid off, check with your bank and setup an arrangement. if you get pushback, take it up the chain.

[remo]

Re: .. canuck banks wont be foreclose on clients..

fi reel? only in canada

[Dr.Dudd]

Re: .. canuck banks wont be foreclose on clients..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: dmXks</div><div class="ubbcode-body"> thats the word from within the system.
seeing the carnage caused by banks down south foolishly forclosing on clients, Canadian banks are are offering &quot;hardship&quot; waivers for mortgage payments. This will include the ability to miss 4 to 6 months of payments and refinancing during the closed periods without penalties.

if u get laid off, check with your bank and setup an arrangement. if you get pushback, take it up the chain.


</div></div> Do you remember whar Isaid about the way to deal woth this foreclosure problem, with RichD??
I tell you that I actually have a lot more influence writing on here than speaking to my kids.

[RichD]

Re: .. canuck banks wont be foreclose on clients..

what was it you said?

[Dr.Dudd]

Re: .. canuck banks wont be foreclose on clients..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">what was it you said? </div></div>Go back and read it. That was just a few days ago.
what happen to your memory?

[X]

Re: .. canuck banks wont be foreclose on clients..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">what was it you said? </div></div>Go back and read it. That was just a few days ago.
what happen to your memory?

</div></div>
him smoke too much pot

[Dr.Dudd]

Re: .. canuck banks wont be foreclose on clients..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: dmXks</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dr.Dudd</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body">what was it you said? </div></div>Go back and read it. That was just a few days ago.
what happen to your memory?

</div></div>
him smoke too much pot </div></div> I have to be careful hanging out with him then!!

[Tuff Gong]

Re: .. canuck banks wont be foreclose on clients..

I am pretty sure mortgage and banking problem is smaller in size and scope than the USA. In the USA some the guarantors themselves went out of business so it would have been infinitely more difficult for the Banks to make such a guarantee add that to the then view of just how a Capitalist Economy is supposed to work.

[RichD]

Re: .. canuck banks wont be foreclose on clients..

actually what it is is that Canadain banks have traditionally shown a lot more common sense that US banks...one of the biggest canadian banks(TD) made a decision to not even touch any of the sub prime instruments.

A reasonable position for a institution to take would be ..if you have loans being serviced you should do everything in your power to try to ensure that they continue to be serviced..flexibility will be the key to survival.

[Tuff Gong]

Re: .. canuck banks wont be foreclose on clients..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"> actually what it is is that Canadain banks have traditionally shown a lot more common sense that <span style="text-decoration: line-through">US banks</span> <span style="color: #FF0000"><span style="font-family: 'Arial Black'">Other Banks Worldwide</span></span>...one of the biggest canadian banks(TD) made a decision to not even touch any of the sub prime instruments.

A reasonable position for a institution to take would be ..if you have loans being serviced you should do everything in your power to try to ensure that they continue to be serviced..flexibility will be the key to survival. </div></div>

Did any Canadian Banks deal in SubPrime Instruments or other Derivatives?
I think it is more likely a case of Canadian Regulations being more robust, but without knowledge I cannot say for sure.
The problem in the USA stemmed from bad governance.

[RichD]

Re: .. canuck banks wont be foreclose on clients..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Tuff Gong</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"> actually what it is is that Canadain banks have traditionally shown a lot more common sense that <span style="text-decoration: line-through">US banks</span> <span style="color: #FF0000"><span style="font-family: 'Arial Black'">Other Banks Worldwide</span></span>...one of the biggest canadian banks(TD) made a decision to not even touch any of the sub prime instruments.

A reasonable position for a institution to take would be ..if you have loans being serviced you should do everything in your power to try to ensure that they continue to be serviced..flexibility will be the key to survival. </div></div>

Did any Canadian Banks deal in SubPrime Instruments or other Derivatives?
I think it is more likely a case of Canadian Regulations being more robust, but without knowledge I cannot say for sure.
The problem in the USA stemmed from bad governance. </div></div>

yes some of them has some exposure to derivatives (CIBC took some big hits..but they have always been a much riskier bank)

[Boricua_papi]

Re: .. canuck banks wont foreclose on clients..

Ooonu have it way too good up deh. Mek yuh tun soft and flabby.

[Dr.Dudd]

Re: .. canuck banks wont be foreclose on clients..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Tuff Gong</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RichD</div><div class="ubbcode-body"> actually what it is is that Canadain banks have traditionally shown a lot more common sense that <span style="text-decoration: line-through">US banks</span> <span style="color: #FF0000"><span style="font-family: 'Arial Black'">Other Banks Worldwide</span></span>...one of the biggest canadian banks(TD) made a decision to not even touch any of the sub prime instruments.

A reasonable position for a institution to take would be ..if you have loans being serviced you should do everything in your power to try to ensure that they continue to be serviced..flexibility will be the key to survival. </div></div>

Did any Canadian Banks deal in SubPrime Instruments or other Derivatives?
I think it is more likely a case of Canadian Regulations being more robust, but without knowledge I cannot say for sure.
The problem in the USA stemmed from bad governance. </div></div> Actually the only banks that got involved done so through derivatives. Since only the holders of the assets can get burned wgen it crash.
How it work is that those who originate the loans,already know it is no food, but they had a ready market for them.
So they would simply create the loan and sell them to wholesalers,who bundle the loans, mixing good bad and evfry type and sell those as derivatives. so some banks use their deposits an invest in these derivatives, because the credit rating agencies rated them as triple A.

[Stormmey]

Re: .. canuck banks wont foreclose on clients..

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: B_P</div><div class="ubbcode-body">Ooonu have it way too good up deh. Mek yuh tun soft and flabby. </div></div>

BP you too jealous...cho