Quote:
Originally Posted by trueimage
Just an update, the bank says that I can't go off the bank program because I don't have 20% equity and CMHC won't let me do TIPP or anything other than paying the bank.
Also it is so high because they had to pay the 1900 in june and only had 2 months collected by then, so the first 2 years are higher, then it should drop by $100 or so per month.
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BS!!!
I deal with clients everyday who don't have 20% equity and they are on the TIPP program. That may be TD's rule but it has nothing to do with CMHC.
Banks have an amazing ability to eff up the tax payments. Pay to the city dorectly whether you save the money or go on the TIPP plan. As someone else said there is no point involving another party, especially a bank.
You may have to show them proof you are on the TIPP plan but if you fight and bitch enough hopefully they will let you switch.