- Joined
- Oct 25, 2007
- Messages
- 1
Hey everyone,
I am trying to find out if mortgages offered for properties in Alberta are still non-recourse. I`ve always heard about the liability of Alberta mortgages limited only to your investment.
In other words, in the event of a default a bank cannot seize your personal assets. They can only seize the property that the mortgage is secured against.
Has these changed over the years are does it still apply today? Moreover, if the mortgages are still without recourse, are credit scores affected in the event of a default in Alberta?
Moreover, does anyone know banks that will provide financing up to 80% LTV conventional loans based on corporate guarantees. I am looking to finance properties without personal covenants.
Thanks
Virata
[email protected]
I am trying to find out if mortgages offered for properties in Alberta are still non-recourse. I`ve always heard about the liability of Alberta mortgages limited only to your investment.
In other words, in the event of a default a bank cannot seize your personal assets. They can only seize the property that the mortgage is secured against.
Has these changed over the years are does it still apply today? Moreover, if the mortgages are still without recourse, are credit scores affected in the event of a default in Alberta?
Moreover, does anyone know banks that will provide financing up to 80% LTV conventional loans based on corporate guarantees. I am looking to finance properties without personal covenants.
Thanks
Virata
[email protected]