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Mandeep Toor's blog
08 Mar 2018
Pre-approvals are no good in Canada
Pre-approvals are no good in Canada
Lately, I’ve been getting panicked calls from real estate buyers (or their mortgage brokers) to inform me that their bank was not honouring their mortgage “pre-approval”. Obviously, this creates tremendous stress for the buyer and Realtor, mortgage broker, lawyer and this situation is becoming more and more common.
Why is this happening?
