Quote:
Originally Posted by cam_wmh
Thanks for this post.
What does "Conventional mortgages (at least 20% down) are non-recourse in Alberta." the non-recourse portion of your comment mean?
I ask, as I put more than 20% down.
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Non-recourse for housing means that if you give back your house to the bank, you're free and clear of the loan. This makes financial sense if real estate prices significantly fell and the amount owed is now higher than the market value of the house.