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By ScreamingViking (registered) | Posted July 09, 2012 at 21:39:25 in reply to Comment 79347
There is a definite incongruity there.
I was just trying to clarify the terms of the changes the federal government has instituted. The 20% rule doesn't apply to mortgages under $1 million, just the amortization period change applies. (the second FP article also linked to the feds' statement, which is in some ways a bit clearer than many news stories are stating: http://business.financialpost.com/2012/0... )
Now, I would think it's possible Vranich has leveraged his other properties to gain financing for this development, which is directly comparable to the new rules on residents using their home equity to get a loan.
Comment edited by ScreamingViking on 2012-07-09 21:49:40
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