Is Saving Money Enough Motivation to Read a Long Contract?

When buying a home you have just made the largest purchase of your life based on borrowing more money than ever before. Bothering to read that 25 page contract is not high on peoples list. But it should be. It could save you thousands of dollars down the road.      
The ambiguity in mortgage contracts has landed more than one consumer in trouble they didn’t anticipate and now it has spawned a class-action lawsuit against one of Canada’s largest banks.
Kieran Bridge, a Vancouver-based lawyer with the Construction Law Group, has filed a lawsuit against CIBC over what he describes as vague language over early payment of mortgages. The suit was filed in British Columbia and Ontario this month.
Click here for the full Financial Post article.


There are no comments for this item yet.

Post a Comment

* denotes a required field. We will keep your email address private.

Allowed tags: [p], [b], [i], [u], [s], [sub], [sup], [indent]

Real Estate

Roger Lévesque

Personal Real Estate Corporation,
CD, B.Sc., M.B.A

Victoria, BC
Tel: 250-405-4350
Cell: 250-380-8048
Toll Free Fax: 1-866-467-7881

MBABC - Mortgage Brokers of Association of BC