648
'This is egregious': Sisters shocked when Toronto landlord raises rent to $9,500 a month
(toronto.ctvnews.ca)
this post was submitted on 06 Sep 2023
648 points (97.0% liked)
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This is what I don't get. Where's the risk for the lender? If I can't pay, they get the house and can sell it. I guess there's a potential cashflow issue but the underlying asset isn't going anywhere.
Typically it's pretty low risk in comparison to other loans which is why home loans are relatively low but there's a risk that both the property value declines and the outstanding loan and selling costs is more than property value.