Quote:
Originally Posted by amorak
I love it when people start advice with sentences like this 
"Hey Joe, my wife is pissing me off, what should I do?!"
" Not that it is entirely 'legal', but I know a guy who can do her in" |
It is definitely not something I would personally do, or I would condone. The guy I know who did it, did on the advice of an independant mortgage broker, and had little or no other options, and a family on the way. So I wouldn't say it was advice... just a scenario. As far as the legality of it, I am not well versed on Mortgage lending but I would assume it is not legal as Troutman suggests.
Have you considered finding an assumable? That is what I did 5 years back when I was strapped for the necessary down payment, as I didn't qualify for CMHC at the time. Or are you stuck on this one property?