Are you sure this is a Canadian term? I've never heard it before. In order to be on the mortgage, the spouse would need to be on title as well. You can't be on the mortgage without being on title.snowhite445 wrote: ↑Mar 14th, 2019 10:56 pm1- What is a group mortgage? Is it when a spouse is added as a co-applicant on a mortgage where the spouse is not on the title of the property?
If yes, what is bad about it? (we know it's good because it can be used as an income supplement to get approved). Are there any cons to it?
2- What happens at end of a term or change of a provider? does the next require both spouses to be on the new mortgage or it can change back to one spouse?
Mortgage Broker, Author
CityCan Financial Corp (lic. 10532)