Why are there hardly any listings on CMHC?

[Ming Lim]

I was tooling around on HUD homes today and decided to look at the CHMC website to see how many properties would be available in the Canadian market. Guess how many I found! *3*.. just 3 in all of Canada. Why is that? Am I not comparing apples to apples? I understand CMHC to be the Canadian version of the FHA / HUD.

[Gary McGowan]

Stats taken from the Canadian Bankers Association:

Total Number of CDN Mortgages 4,605,980 Dec 2013

Total Number of CDN Mortgages in Arrears 0.32% (14,739) Dec 2014

Arrears in Canada means non payment for 3 months,

First Mortgage holders will 99.999% of the time take over the property before letting it go to CMHC.

We just don't have the same types of numbers of foreclosures or power of sales like the State because of our Banking laws.

For instance; we can not leverage our homes without private lenders past 80% LTV. Unless it's a new purchase with Insured financing in place.