Loan Digest

When paying your mortgage doesn’t reduce your loan

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Real estate reporter Rachelle Younglai explains why home loans with negative amortizations are on the rise

that at CIBC, 20 per cent of mortgage-holders are seeing their loan balances grow instead of shrink. This represents $52-billion worth of mortgages. CIBC isn’t the only bank in this situation but it’s the only one that’s disclosing this information.

Rachelle is on the show to explain why this might be a cause for concern and what mortgage-holders should be thinking about.

 

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