Number of GTA homes being taken over by lenders is skyrocketing
People who work with overextended real estate borrowers in the Toronto area say they’re busier than they’ve been in more than a decade. The number of homes that have been taken over by lenders under “power of sale” is up almost 60 per cent from the same time last year, according to new data.
Some in the sector are comparing the current climate to the fallout from the 2008 financial crisis.
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