Quote:
Originally Posted by hulkrogan
So everyone who bought during the 30/35/40 year mortgage period just got royally $*%&ed.
Good work government.
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AFAIK, once you have a mortgage in place, so long as the mortgage amount doesn't change, he amortization period won't change when you renew your terms. You may have to requalify, but if you had a 30+ before, you are able to keep it moving forward.
Correct me if I'm wrong.