Help Flood Victims with Mortgage Renewals and Stop mortgage recalls soely due to floods
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URGENT NOTICE: "PROJECT INTERESTED" in aide of FLOOD VICTIMS in and around Montreal-Rigaud Quebec and the like.-----PLEASE RE-POST....THANK YOU
I deal with financing and mortgage brokers at times and I was made aware through my mortgage financing friends that banks renewing mortgages in the flood zone are now not renewing those mortgages and in fact giving the flood victims 30 days to reimburse the totality of the loans.
In one such situation is a lady living by herself who was approved for the renewal and actually approved for an increase as she had a perfect repayment record with the CIBC bank. Flood waters arrive before mortgage renewal disbursement and.... CIBC has given her 30 days to repay the whole mortgage amount claiming that the security has been altered. Obviously this is an area that is affected every 10-20 years possibly every 30years. Flood probability with a risk of 1 time in 10-20years qualify for mortgages today and should remain so. No other lender will touch this victim now...so the option is loose all the equity in the home as the home is put up as a fire/flood sale....NO! ..... let's help...I am sure other individuals are in the same situation with other banks as well. So what! The world still turns...Now that the financial institutions are in the deal, they should stay in it as long as the defaults is not payment default etc. and not solely due to the flood disaster.
I am hoping to get as many signatures at it takes as well as inspire a letter writing campaign to all politicians to immediately come to the rescue of these individuals to halt the mindless assault on these flood disaster victims by the financial institutions. Maybe the TV stations could report on this as well.... FRIENDS THESE PEOPLE NEED YOUR HELP! SUPPORT THIS PETITION AND WRITE EVERY POLITICIAN AT EVERY LEVEL OF GOVERNMENT TO MOBILIZE A STAY OF MORTGAGE RECALL PROCEEDING BASED SOLELY ON THIS FLOOD DISASTER. START WITH MINISTERS OF FINANCE, PRIME MINISTER, PREMIERE, MAYOR, COUNSELORS......ALL....AND SEND A COPY TO THE CIBC AND OTHER BANK PRESIDENTS. THEIR PROFITABILITY IS BASED ON OUR BACKS NOT THOSE OF SHAREHOLDERS! GOVERNMENTS NEED TO PUT A TRANSITORY LAW IN PLACE HERE IMMEDIATELY PROTECTING SHORT TEMPERED RADICAL BANKER DECISIONS AGAINST FLOOD VICTIMS! BETTER STILL ADVISE YOUR LOCAL BANKER THAT THIS IS UNACCEPTABLE BEHAVIOR.
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