Quote:
Originally Posted by OilKiller
The 80k is the difference in what is owing on the mortgage plus court costs, after they valued the home at a certain amount and agreed to pay that amount.
|
I assume the mortgage was insured through CMHC? I believe CMHC will pay out the bank the difference. You might want to call CMHC, explain your situation (without naming names) and find out how things work and what is going to happen...