CMHC debt from foreclosed home
September 3rd, 2009 by Questions
When CMHC covers the bank for the shortfall amount on a foreclosed home, CMHC will become my debtor with the entire unsecured shortfall amount. Isn`t the point of insurance is to cover me? It would make more sense if CMHC comes after me for the amount of premium unpaid and not the entire shortfall unless they give my premium money back. Why would the entire amount be my debt?
Posted from: Alberta