This is an extension of the previous thread with some local coverage from the Vancouver Sun:The Pirillos are among hundreds of B.C. property owners who have been caught by slumping real-estate prices and high-interest, subprime mortgages.They bought their five-bedroom house five years ago for $114,000, but Pirillo owes Accredited Home Lenders, a U.S.-based subprime lender, $140,000 after borrowing against their house equity.Their mortgage called for interest payments of 8.25 per cent, but when i...
aggregated: 1 year 3 days ago | 150 views
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