this post was submitted on 27 Jun 2024
60 points (98.4% liked)
Canada
7275 readers
126 users here now
What's going on Canada?
Related Communities
π Meta
πΊοΈ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
ποΈ Cities / Local Communities
- Calgary (AB)
- Edmonton (AB)
- Greater Sudbury (ON)
- Guelph (ON)
- Halifax (NS)
- Hamilton (ON)
- Kootenays (BC)
- London (ON)
- Mississauga (ON)
- Montreal (QC)
- Nanaimo (BC)
- Oceanside (BC)
- Ottawa (ON)
- Port Alberni (BC)
- Regina (SK)
- Saskatoon (SK)
- Thunder Bay (ON)
- Toronto (ON)
- Vancouver (BC)
- Vancouver Island (BC)
- Victoria (BC)
- Waterloo (ON)
- Winnipeg (MB)
Sorted alphabetically by city name.
π Sports
Hockey
- Main: c/Hockey
- Calgary Flames
- Edmonton Oilers
- MontrΓ©al Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL): incomplete
Football (CFL): incomplete
Baseball
Basketball
Soccer
- Main: /c/CanadaSoccer
- Toronto FC
π» Schools / Universities
- BC | UBC (U of British Columbia)
- BC | SFU (Simon Fraser U)
- BC | VIU (Vancouver Island U)
- BC | TWU (Trinity Western U)
- ON | UofT (U of Toronto)
- ON | UWO (U of Western Ontario)
- ON | UWaterloo (U of Waterloo)
- ON | UofG (U of Guelph)
- ON | OTU (Ontario Tech U)
- QC | McGill (McGill U)
Sorted by province, then by total full-time enrolment.
π΅ Finance, Shopping, Sales
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
π£οΈ Politics
- General:
- Federal Parties (alphabetical):
- By Province (alphabetical):
π Social / Culture
Rules
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage: lemmy.ca
founded 4 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
She probably didn't qualify to take on the whole mortgage without her ex-Spouse.
Understood. I've only recently been learning how much Canadian mortgages force their lendees to "readjust" to new conditions. In the US you can generally keep the initial terms shy of a refinance or foreclosure
Can you provide any local insight as to whether you can find a decent house at a lower rate than that?
I know housing affordability is a shit show there and that lady isn't making enough no matter what she does but I'm curious how much she could have lowered that percentage
I'm pretty sure she'd be in the same situation in the US. Assuming the house was jointly owned and she had the ability to buy out her ex-Spouse's equity or get the whole home in the divorce, there would still be a change of ownership, so she'd need to get a new mortgage solely in her name.
I know I've heard of couples splitting up and coming up with creative solutions, like continuing to jointly own the house, but that doesn't seem to be the case here.