Trending
A red, white, and black flag with a white background.

Jingle mail rise reported in Alberta

Walking away from a mortgage on an underwater property was rife in Alberta in the 1980’s and conditions in the province are starting to create a rise in incidents of ‘jingle mail’, sending the keys back to the mortgage lender. Alberta has widely available loans which allow homeowners to walk away from their mortgage with no recourse, assuming they have made a downpayment of at least 20 per cent. Real Estate Investment Network analyst Don Campbell told the CBC: “We’re slowly starting to see it in Grande Prairie and Fort Mac.” Areas where prices have dropped 20 per cent or more pose a risk to lenders and the federal finance department is watching the issue closely.

About the Author

Steve Randall has more than three decades of media experience encompassing online, newspapers, magazines, radio, and podcasts. He focuses on insights and news for professionals in finance, real estate, and legal services. Steve writes for multiple Key Media titles in Canada, United States, Australia, and New Zealand. LinkedIn | Email

Post a Comment

Related Articles

A June Edge Realty Analytics report has indicated that Canada’s population growth may be peaking. In the second quarter of 2024, Canada’s population saw an...

Choosing the right realtor can significantly impact your real estate experience and the success of your transaction, whether you’re buying, selling, or investing. Calgary’s real...

Most Trending News

A June Edge Realty Analytics report has indicated that Canada’s population growth may be peaking. In the second quarter of 2024, Canada’s population saw an...

Choosing the right realtor can significantly impact your real estate experience and the success of your transaction, whether you’re buying, selling, or investing. Calgary’s real...

A new CMHC research paper, Understanding Filtering: A Long-Term Strategy to New Supply and Housing Affordability, released in June, provides insights into how “filtering” can...