**HEADS UP TO ALL FUTURE TD CANADA TRUST CLIENTS…** A must read…. Looking to place your mortgage with TD? Think again before you make that move. The below article highlights a change the bank has rolled out with all new conventional variable mortgages… What this is saying is? Under the terms of the new clause, if, at any time and for any reason, the loan-to-value on a conventional mortgage exceeds 80 per cent, the bank has the right to direct the borrower to bring it under that 80 per cent threshold or to obtain an appraisal proving the fair market value is indeed higher. Something that is outside the your control, property values, can cause you to have to come up with a significant amount of money or the mortgage will be called. Know all of your options and all the fine prints behind the terms of the big banks and the lenders… Protect yourself and call a mortgage agent first! We work for YOU NOT the lender...
Posted on: Mon, 20 Jan 2014 19:23:13 +0000
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