Wednesday, March 9, 2011

Quebec boards demand action on mortgage penalties

The QFREB is concerned about mortgage penalties imposed on households that prepay the full balance of their mortgage, and wants the federal government to establish guidelines for this issue. The QFREB identifies the main problems and proposes solutions in this report (click here to read the report)...

The Fédération des chambres immobilières du Québec (Quebec Federation of Real Estate Boards QFREB) is a non-profit organisation that is comprised of the 12 real estate boards in Quebec as associate members, as well as more than 15,000 real estate brokers as affiliated members. Its mission consists of protecting the interests of the Quebec real estate industry so that its chambers and members can successfully accomplish their business goals.

I will keep you posted on how this goes..the QFREB is lobbying with the Federal government so if any changes are made, it should impact all Canadian provinces.