Guarantees #51

Legally Speaking

By Gerry NeelyB.A. LL.B. The fall in real estate values has made the security held by financial institutions of somewhat dubious value with the result that the number of Court actions against guarantors to recover deficits owed by principal borrowers has increased sharply. This is bad news for guarantors since the form of guarantee used

Agent’s Authority to Receive Mortgage Payments #50

Legally Speaking

By Gerry NeelyB.A. LL.B. Usually you would assume that if you are making monthly payments on a mortgage to a mortgage broker, that you could safely pay the principal amount required to pay the mortgage in full to the broker, and obtain a release from the mortgagee. A recent case once again raises the question

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