Unrefinanceable” mortgages – cases in which mortgages cannot be refinanced because of home price depreciation, according to a prominent broker i,Daniel Vyner of DV Capital in Toronto, told Canadian Mortgage Professional . The protracted downturn of property values across variousmarkets over the past year, along with an increasingly cautious approach by lenders, was seeing plenty of borrowers of private mortgages running into problems at the end of the term.
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