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What is CMHC Mortgage Insurance?

What is CMHC Mortgage Insurance?

When you buy a home, you’ll save money if you can afford to make a 20% down payment. However, for some Canadians, that much of a down payment is out of the question. Thankfully, there are options if you don’t have 20% to put down. If you are willing to pay extra for your mortgage, CMHC insurance will help lenders feel better about approving you for a loan with less than 20% down.

The Canada Mortgage Housing Corporation provides mortgage default insurance to lenders for home buyers with a down payment of at least 5%, but less than 20%. This enables financial institutions to lend at a higher loan to value ratio because CMHC is absorbing much of the risk. And it’s not just a win/ win for the homebuyer and their bank. CMHC insurance helps to increase homeownership across Canada, which is a mandate of the federal government. 

Who Else Offers Mortgage Default Insurance? 

As the primary provider in Canada, CMHC has become synonymous with mortgage default insurance. And in this article, we’ll focus solely on the CMHC product. That said, it’s important to note that there are two other companies that provide mortgage default insurance: Genworth Financial and Canada Guaranty. While CMHC covers the vast majority of insured mortgages in Canada, your bank has the option to use any one of the three. 

Who Does CMHC Protect? 

A common misconception is that CMHC insurance is in place to protect the buyer, which is not the case. It’s actually used to protect the lender. The fact that the home buyer is the one paying the premium for this insurance coverage may be partly to blame for the confusion. What CMHC insurance does is guarantee the bank or credit union that it will not lose money on this high ratio mortgage, if the borrower happened to default. When the home buyer has more “skin in the game,” ie 20%+ downpayment, he or she is considered less of a risk. 

A larger payment usually represents a large commitment to the home, and in those cases, a lender can feel reasonably sure that a borrower will do absolutely everything in their power to avoid defaulting on the mortgage loan. When you pay less than 20% down, the lender worries that in a time of financial hardship, the borrower may be less inclined to remain committed to the mortgage, as they have less to lose. With the borrower paying for the CMHC insurance, the lender has even less to worry about. 

How Does CMHC Insurance Work?

CMHC mortgage insurance compensates the lender in the event that you default on your loan. Since it is the lender that is putting up the capital for your home purchase, the lender takes on most of the risk if you don’t follow through. 

Insurance helps offset this. You may feel as though you are the one buying the home, but the reality is that the lender has fronted the majority of capital for this purchase. For example, if you are purchasing a $200,000 home with a 5% down payment, your share of the upfront cost is $10,000, while the lender covers $190,000. That’s a lot of money for the lender to lose if you default and don’t follow through with repaying the mortgage. 

When Do I Pay the CMHC Premium? 

It is the lender that technically pays the mortgage insurance premium to CMHC, but the cost is passed to you. While you have the option of paying the premium upfront, from your own resources,  in the vast majority of cases, the CMHC premium is added to the mortgage and financed over the life of the loan. While this will increase your mortgage interest costs over the long run, it can be helpful, as many people don’t have the funds required to cover the cost of CMHC insurance upfront. 

CMHC Fees Explained

Now that you know why CMHC insurance exists, you’re probably wondering how much it will cost you. CMHC insurance premiums are expressed as a percentage of the overall mortgage amount and are tiered, based on the amount of downpayment that is being provided by the home buyer. 

  • Down Payment of 5% to 9.99% = 4.00% 
  • Down Payment of 10% to 14.99% = 3.10%
  • Down Payment of 15% to 19.99% = 2.80%

As you can see, as your down payment grows, the cost of the CMHC insurance decreases. To illustrate how a CMHC fee is calculated, let’s use a home purchase price of $350,000, with a 5% down payment. Your mortgage amount, including CMHC premium, would be calculated as follows:

Step 1: $350,000 X 5% = $17,500 (down payment)

Step 2: $350,000 – $17,500 = $332,500 

Step 3: $332,500 X 4.0% CMHC fee = $13,300 

Step 4: $332,500 + $13,300 = $345,800 Final mortgage amount

As you can see, the final mortgage amount on a $350,000 home purchase with 5% down would be $345,800. There are, however, some other costs that must be factored in. For example, CMHC rules require that home buyers set aside 1.5% of the purchase price to cover closing costs ie. lawyer fees. So, in reality, you would need to have 6.5% of the purchase price upfront in the example above. 

PST on CMHC Insurance 

In four Canadian provinces, Provincial Sales Tax is charged on CMHC premiums. If you live in Manitoba, Quebec, Ontario, or Saskatchewan, this is something you’ll need to keep in mind. The PST cannot be financed with the mortgage either, instead, it would be collected by the lawyer at the time of closing. The PST rate varies from province to province.

CMHC Insurance – Quick Facts 

  • Required for mortgages with less than 20% down 
  • Premiums are tiered and included in the mortgage amount 
  • Maximum amortization on a CMHC mortgage is 25 years 
  • PST is charged on CMHC premium in 4 provinces 
  • CMHC requires that borrowers have 1.5% towards closing costs
  • Down payment can come in the form of a gift from a family member
  • Qualifying homes must be available for full-time, year-round occupancy 
  • CMHC insurance required for purchase of a mobile home 
  • One borrower on the mortgage must have a credit score of 600 or higher
  • Homes purchased for over $1MM do not qualify for CMHC insurance

CMHC Energy Efficient Premium Refund

If you want to reduce your borrowing costs, the CMHC has a program that provides a refund of up to 25% of your premiums if you purchase an energy-efficient home, or if you renovate your home to make it more energy-efficient. If you are environmentally conscious, this can be a great way to save a little money, as well as the earth. It makes sense if you have the ability to take advantage of these programs.

Is CMHC Insurance Right for Me? 

While anyone would benefit from having a 20% down payment, in both interest and premiums saved, CMHC mortgage loan insurance serves a purpose by allowing people to buy a house with a smaller down payment. Being insured against loss, the bank is less concerned about default risk, allowing more buyers to stop renting and start building equity in a home of their own. If you are interested in purchasing a home, this is a big deal. Rising home prices mean that it takes longer to save up for a big down payment. A CMHC mortgage can cut that time in half. 

Before you decide to buy a house, however, think about whether or not you can afford a bigger down payment. Is it a better idea to take extra time to save a larger down payment and pay less in the long run, or get into a home sooner, but paying a larger amount over the life of your loan. Each scenario has its benefits and drawbacks, and you will need to consider your current situation and the way your financial resources are being used. Only you can decide which scenario is likely to provide you with the best outcome. 


  1. mfd

    we bought our home when you needed 25% plus to not pay CHMC and it was tough. I’m glad they lowered it to 20%.

    If it wasn’t for cmhc it would be extremely difficult to save up an adequate down payment if you also had to pay rent.

  2. yak

    when do you stop paying the CHMC insurance?

  3. Tom Drake

    Yak, you just pay it at the beginning of your mortgage. Technically it’s the one time, though it can be spread out over the length of your mortgage.

    • Shane

      Providing they approve your insurance!

  4. No Debt Guy

    There are still programs where you can purchase a home with no down payment. If you do the math, they are actually not a bad deal.

    • caroline

      Where are theses companies in Ontario and what is the interest rate in comparing to the bank rates.

      • Mide

        Is it legal for a lender to make a buyer buy cmhc after making 20% down payment.
        Can one claim a refund

  5. jo

    How do you compute the insurance premium for a refinance mortgage that borrows from the equity?

    • Tom Drake

      I’m not positive, but I believe the amount available to be borrowed also counts in your percentage. For example, if you have a mortgage for 50% and you want a HELOC for another 30%, then that counts at 80% since your debt level on the house could potentially be up to 80% the very next day.

    • Jay

      The premium is added to the base loan amount. The base loan amount is the figure used to calculate your LTV (Loan to Value) ratio. 100,000 Home Value 80,000 @ 80% LTV PLUS the insurance premium.

  6. Edwin C Urfano

    Hello There,
    Is there a good benefit that I can get to waive the CMHC Insurance since it is for the soul benifits of the lender not for the borrower which is myself. I just recently bought a property and the cost of CMHCI insurance is $16,300 Which I think is really high. I put a down payment of 10% which the mortgage broker told me to do so plus the transfer of property that cost me $16,200.Is there anybody there who can enlighten me or have the experience with all this process which I feel something in the process is wrong. Please advice or give your comment.
    Thanks, and have a nice holiday!

    • Lorne

      Now imagine you sell the property after a few years: NO REFUND.

      CMHC is a disgusting scam. It is not “insurance”. They pay out a small fraction of the “premiums” they take in, so its more of a shakedown racket. And if it were insurance, YOU the payor, would get the benefit – you don’t! The bank benefits.

  7. Christopher

    Saving up to input a decent percentage of your down payment to get a better rate is a good idea for the long term of your mortgage as you will save more money overall due to the lowered insurance premium and it also shows the bank you are more committed to the mortgage.

  8. Monica

    Having a large downpayment on a house only shows that you have either a VERY good job or someone who is willing to help you out. As a person who has an OK job but has to spend a huge percentage of that on rent to keep roof over her head, I find the banks viewpoint that a big downpayment somehow makes you more commited laughable. I would do almost anything to be able to get a house, but as a single parent with a child to provide for, the idea that I can somehow come up with 10% for a house in Edmonton with costs being around 200,000 is obscene. All I see are the rich looking out for the rich leaving the hard working poor like me out in the dust.

  9. Dino

    This is an informative read. CMHC has allowed people to purchase their own home sooner, without having to save the 20% down, which means they can pay off the mortgage at a younger age.

  10. karen m

    can i skip a payment once a year if needed, i have been told by the bank i cannot because i am with CMHC and they do not allow this.

  11. Matt Cover

    So what you are saying is the the borrower should take out additional insurance to protect themselves. How sad that individuals with little asset are also paying the most for insurance.

  12. Lynne

    I am an +50 woman who together with my partner is trying to buy a home. Because we are both older we do not want to take out a large mortgage. Because of the very high prices of houses and townhouses, we can only afford to buy an apartment or a manufactured home. We have found a manufactured home that suits our needs and have put in an offer that’s been accepted. Our bank is willing to finance the purchase, we have a 20% downpayment but because its in a 50+ park the CMHC is refusing to insure the mortgage loan. Is there anything we can do about this. I feel they are discriminating against me because of my age and economic situation. If I was wealthy and could afford a regular residential home I guess there would not be a problem.

    • Jay

      It is actually the park in which you are purchasing that is doing the age discriminating. By not allowing anyone under the age of 51 to purchase, they are excluding those of a younger age. CMHC has a mandate to make home ownership available to everyone; therefore they do not provide insurance on properties which exclude people. Age restricted properties are not and will not be allowed under a CMCH insurance program. There are two other insurers in Canada (Genworth and Canada Guarantee). I suggest you contact a broker to see what your options may be with either of the two.

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  13. deb

    We had the same problem buying a condo. We had three mortgages approved by the bank – all turned down by CMHC and Genworth because they were 55+ buildings. They basically lied the 1st and 2nd times and gave other reasons for turning the deal down but finally the broker and agent were so aggravated they pushed CMHC to the wall and they admitted they won’t insure 55+ buildings – said they were “nursing homes”! We ended up with a $40,000 higher mortgage – which CMHC happily insured – in a mixed age building with pot-smoking party animals for neighbours. CMHC is not supposed to discriminate based on ethnicity, religion, colour, language but discrimination based on AGE is just fine.

    • Jay

      Check your story. It is clear in CMHC’s policy that they will not provide insurance on age restricted properties. Your bank would not have had to “Push CMHC to the wall” to obtain that info – nothing to admit – it is clear in their publications.

    • Jay

      I might also mention that CMHC will not insure “Age Restricted” properties. It doesnt matter if the restriction is 30+ 40+ 60+.

  14. lili

    The only limit to our realization of tomorrow will be our doubts of today
    sencart has some thing your need ,first-rate, attractive and reasonable price
    thank you

  15. Carmen Au

    When you want to sell your house and buy a new one, essentially breaking your current mortgage with the bank, can the CMHC transfer from one lender to another? Or obtain a refund by prorating? If not, that means you would lose that CMHC lum sum, if you move to a new lender for your new home. Your advice is appreciated!

    • Sandi @ Spring Personal Finance

      Carmen, it is absolutely possible to transfer your already paid premium to a new mortgage (on the same property) with a new lender, but CMHC doesn’t do it automatically, and many lenders don’t think to ask, or don’t know it’s possible. You’ll need your CMHC application number from your existing lender, and you may have to pay an adjustment if the loan to value ratio of your mortgage has increased.

      You’ll have to initiate the request at your new lender, but it can be done. Good luck!

  16. micheal

    I was wealthy and could afford a regular residential home and I see are the rich looking out for the rich leaving the hard working.

  17. Stacy Coldman

    Hi, Tom.
    Could i skip a payment once I have low budget? Somebody told me that is not possible as I am in CMHC Mortgage. Regards

  18. NancyW

    Me and my hubby are so pissed off…
    We talked to our stupid bank, and they approved us, they gave us the go ahead for a house.
    Stupid CMHC turned us down…
    We even found a house that we both loved, and the seller of the house accepted our offer.. Then a few days later, we got turned down by CMHC…
    Somebody should fire those idiots!!!!!!

    • Shane

      My wife and going through the exact same thing

  19. NancyW

    We were told by the bank that CMHC declined us because we didn’t have a ‘gift of 20,000 signed’
    How pathetic is that??? As if anyone has 20,000 they are going to gift us?!!!?!!

    • Jay

      It sounds like the real story is that you were unable to provide confirmation of your down payment.

    • ScottBlogs

      If you had the $20,000 and it was not a gift, you have to prove that you saved it yourself and that it didn’t come from debt. The downpayment has to be 100% free and clear, even if it is a gift. If a gift, you MUST provide a letter from the person who gifted you the down payment.

  20. Zaak

    Hi Tom,
    I purchased a home 4 years ago and had to insure with CMHC (about $10,000 paid up front). Now I’m selling the home and moving into a rental. Since the insurance covers the life of the mortgage, do they ever refund at a pro-rated level if the insurance is no longer needed? I’m not purchasing after this sale.

  21. Mary


    I have the same problem as Zaak, had to insure the mortgage 3 years ago because need only 5% more to get to the min 20%, (we needed 8000 to have 20%, but had 8600$ premium added to our mortgage, calculate how much it will be for the life time of mortgage :() what the silly decision we made, I wish we had a good consultant. Anyway it’s history now, we’re selling our apartment and for the new house we have 20% down, we also changed the mortgage company and have no relation with the first bank we insured the mortgage for their protection! now who this premium goes to in next 30 years? second company? CMHC?… why when the risk is no longer valid, we have to pay the premium? it’s the most unfair business I’ve ever seen.

  22. Vlad

    CMHC provides mortgage insurance to LENDERS not to BORROWERS!!! So, if the banks want to make huge profits by lending you money and to have 100% protection on investment, then BANKS, not YOU BORROWERS should pay loan insurances!!!.
    $200 000 loan equals $10 000 down payment plus $5 225 loan insurance and $1169.18 monthly payment for 25 years. In the first year bank would collect from you interest in the amount of $9906.35; In 2 years – $19601.71; In 3 years – $29075.30, and so on for the total $150754 in interest paid to the bank in 25 years.
    If you lose your job and can’t pay – you lose your home. If your property goes down in value and you cannot pay, you will end up in dept. There is no protection for home buyers.
    For the banks, it does not matter what happens to the house market or to the lender, they will get their interest plus money back on the investment from CMHC.
    So, the question is why CMHC (taxpayers run organization which supposed to assist Canadians) allows banks to pass this fee to the borrowers. By looking at the banks’ hefty profits there is a margin for the banks to pay THEIR insurance for THEIR investment.

    • Jimmy Mac

      I agree 100%. The practice of the banks to have the borrower pay for the cost of CMHC insurance is criminal and should be stopped by the govenment.

  23. Haine

    In May 2012, the CMHC had approved 272 loans for the full $2 billion available under the Municipal Infrastructure Lending Program. I think this is a great thing.

  24. SST

    If it wasn’t for the CMHC, Canadian real estate prices would not have skyrocketed as they have. The CMHC was a good thing at one time, it is now a subversive, and dangerous, entity.

  25. Karen

    Do you know if any other mortgage insurer will cover mortgages in mobile home parks without age restrictions? We applied for a small loan on a mobile with 5% down and got approval from the bank but declined by CMHC. My broker told me that CMHC is the only insurer that will cover mobiles. We decided to use more of our savings and put down 20% in order to avoid CMHC but have been told they are probably still going to require the insurance and we will probably still be declined????

    Does anyone else insure mobiles?????

  26. Lisa

    We have a first mortgage thats coming up for renewal in a few months. The balance would then be 355K and the property value according to a recent appraisal is 599K. We also have a second mortgage of 80K on this property. When the first mortgage comes up for renewal, does the lender have to insure it thru CMHC? i don’t think they have to cause we owe them less than 80% of the home value, just wanted a reliable answer. Thanks

  27. home loan mortgage planning and advisors in US

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  29. NS Daddy

    We went with a 20% down payment just to avoid the CMHC costs. Why should I pay to insure a bank against a loss?

    (The other reason for the large down payment was that we see any debt as bad, and the less we take on, the better.)

    Of course, this is a lot easier with housing prices in small-town Nova Scotia. You folks in Toronto and Vancouver trying to get into the housing market really do have my sympathy.

    • Shane

      Small town Nova Scotia is hard to get the insurers to insure the loans. The insurers either don’t like locations or just don’t like the house. They can decline your mortgage default insurance applications. Going though it now. It sucks. Great house, great locations. Amazing price. And can’t get them to insure the loan. Frustrating

  30. NS Daddy

    I see your point, Fred. However, I think it’s the lender’s rersponsibility to only give out money to people who have the ability to pay it back.
    In 2008 everyone in the US knew the housing bubble was going to burst and all those mortgages would be bad. But lenders kept handing out their money and then selling off the mortgages as CDO’s, hoping it wouldn’t be themselves holding the proverbial “hot potato” when the inevitable happened.

    I don’t much care for the fact that a crown corporation exists to protect bankers from their own bad decisions. If I screw up in my job, I am responsible for the consequences. Why shouldn’t they?

  31. NG

    CMHC are borderline criminal. They don’t help anyone but the banks. They insure the banks against loss with the consumer’s money, thereby leaving the buyer with less money and less ability to pay back the loan they are insuring. The amount I had to give CMHC would have made my payments on the loan for 9 months! If anything it increases risk of default. What a joke, they should be shut down but the banks like having them around and it doesn’t cost the banks a thing so we are stuck with the CMHC. Democracy? Yeah right, when did the people ever matter to the banks or the government?

    • James Melrose

      I do think the CMHC insurance is a complete scam. I’m surprised no one has filed a lawsuit regarding this criminal practice.

      I had to pay mortgage insurance with 10% down 3 years ago to protect the lender. Even though I paid for insurance, I was still mandated to get a guarantor. Now that my mortgage is up for maturity, I am being denied new mortgage applications without a co-applicant to go on title. Now, even a guarantor isn’t good enough for lenders fully protected by mortgage insurance. I am being screwed over after making every payment on time, increasing my credit history and lowering my principal. My income is solid and I have been in the same full-time job for 10 years. The whole system is a total scam that very few people have realized. I’m appalled and disgusted by the whole process! I can’t seem to get the best interest rate unless I agree to ridiculous conditions like putting someone else on title to get the best interest rate.

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  33. duncan

    funny, read the article and there is an advertisement that states quote and buy from BMO. Just thought it was funny.

  34. Annie Craven

    Interesting read especially for first time home owneres. I guess it will all depend on what works best for you and the research must be done before you get too caught up in house buying. Thanks for sharing!

  35. Sandra Rosenberg

    Hi there,
    I am very confused with this CMHC tax.
    Let’s say I bought a property for $400,000.
    What would the CMHC tax be if I put down 10%
    And 20%
    I just got myself out of a lot of debt and I am looking to buy a property.
    I am wondering what the advantages would be for saving for 20% down payment. I know as the years go on, the prices on the market will rise quite a bit. Does it make sense to wait to save the 20% down.
    Thanks a lot.
    Sandra R

  36. greg

    Hoping someone will answer Sandras question. Seems the best one.

  37. debra

    I noticed the CMHC fee / insurance is greatest when individual is able to put down 10 – 15%. This fee / insurance is another another legal scam that Canadians will pay!

  38. Alex

    CMHC is just an entity that only knows how to take money. You buy a house and sell it off in a few months and yet they keep the money, even if you transfer the mortgage they still charge you a separate CMHC fees , that a big rip off , The market in GTA has inflated only because of these criminal companies like CMHC and they banks love them cause they get a share of the profit too like a kickback.

  39. Michelle

    Hi Tom,
    I have a question and I am hoping you can answer it for me. My husband & I have a mortgage for our home but the lender will not give me insurance to cover the mortgage if I die (because of a history of cancer). It seems to me that if I am required to have insurance to cover the mortgage then how can they legally get away with not insuring me?
    I would appreciate your thought and expertise.

  40. pete

    knowing that cmhc is insuring the lender, yet, its the barrower from the lender that got to pay the premium; now, let’s say i have a life insurance that is equal or more of the money i am going to barrow, will that be enough to waive the cmhc?

  41. So Confused

    I have a question. I have a CMHC mortgage that is up for renewal. At the time of purchase my down payment was 5%. I am planning on refinancing to borrow more money against the equity of my home. The new mortgage amount compared to the current value of my home will be 80%. Do I have to pay more CMHC premiums on the new money borrowed?

  42. Glen

    I want to move a modular home onto my parents farm land, will cmhc insure it or do I have to have them “subdivide” the land for me first ?

    It would be in the same yard as their farmhouse also.

  43. Shane

    What they don’t tell you is, if you only have a smal down payment and chmc is required, they can refuse or decline your application. Which means no mortgage. They make it sound great, ever wonder why there are a lot of houses in small back woods towns that have been for sale for a long time. People want to buy them…..:the insurers won’t insure them. So unless you have the 20% down so you don’t need chmc or default insurance you are shit out of luck. Going through this now with a house we want to buy. They make it sound like that if it’s a small down payment you just have to pay more…..not true. They can and possibly will decline your mortgage

  44. Greg

    Do you need a pmi if buying a house from a parent?

  45. Bill Neth

    So you as the buyer are purchasing insurance for the bank. Thats absolutely ridiculous! Why wouldnt the bank add the remaining top up for the downpayment (20%) into the mortgage so CMHC is avoided? They have no problem adding the addition large cost of CMHC to the mortgage. Its really interesting how this is acceptable. The bank needs insurance but they make you pay for it….total scam.

  46. James

    For those who speak against paying for CMHC,that is free enterprise. Put yourself in the lender’shoes and you would be making your clients pay the CMHC as well. I have given small loans to people and that is scary enough.

  47. Tony Doolin

    I have a question that I would like some clarification on if possible.
    If CMHC is payable by the borrower because they couldn’t put down 20%of the cost of the home initially, which I believe to be the case. Then, what if over time the borrower spent money on the house to update or improve it. Surely the money they spent on improving the house should reflect additional money they are putting into the house, thereby increasing their initial percentage of the mortgage. ie:

    Cost of home $100,000
    5% down payment $5,000
    Improvements of $15,000

    So, in effect they have now put 20% into the house. Do they still continue to pay the CMHC every month or can they ask to get the payments stopped ?

    I’d appreciate any comments on this.

  48. Ron

    There is another evil side to CMHC that I am going to bring to the public eye, again. A nice piece of retirement property near a lake was listed at $122,000. I put in an offer and got it for $117,000. I put down 15% (17,550) with fees etc, that “mortgage amount was about $99,000. I had some business trouble in 2008 and was given notice of the pending Power of Sale action.
    I listed the place real quick for $133,000 – great location in a small town, marina etc…and got an offer for $120,000 on condition of rezoning.
    I ended up losing the place very quickly. IT WAS CHMC INSURED.
    The bank, CIBC, turned around and sold the place quickly in a fire sale method for $76,000 to the guy who offered me $120,000.
    So after the dust settled. CIBC got their $99,000 back. Then CHMC came after me for the $22,000 ???
    I just sold my town house where CIBC, not CMHC put a writ on me. With collection fees, I caughed up $28,000 to CMHC…

    • Bruce

      This just happened to my son, on a 202.000 mortgage that was foreclosed by cibc corruption. Cibc sold place for 61,000 less than mortgage amount to a “buddy” and collected difference from cmhc. During the time he had the place the value increased 20-30% but cibc chose to sell to a friend and stuck him with a huge penalty of $61,000. The home had extensive upgrades as well during time he was there, the ability to pull this type of scam and the enablement from federal govt is worthy of a huge investigation of this type of crime being commited against Canadian home buyers! Our govt supports this criminal behaviour full heartidly. If there is a politician in this country with any moral decency ( which is doubtful ) it would be refreshing to the Canadian public to see some support on this type of white collar crime that is running rampant in Canada!

  49. Louise

    If you ask me, everything is a scam designed to look legal. It’s rigged so that instead of inheriting a grandparent’s or parent’s home when they pass away, new generations are forever buying homes from scratch. Don’t get it…

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