Shalini Devid: Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation: Devid, a financial analyst who works in downtown Toronto and rents in Etobicoke, has been caught by the federal governments move to reduce the maximum amortization period from 30 years to 25 years on CMHC-insured mortgages. Buyers with a down-payment of less than 20 per cent of the purchase price are required to buy mortgage insurance through Canada Mortgage and Housing Corporation, according to The Star. Toronto condo parking spaces can fetch $60K Shalini Devid was excited about the prospect of buying her first condo. Then mortgage lending rules were tightened, choking her hopes of home ownership. At least for now. MORE ON THESTAR.COM (www.immigrantscanada.com). As reported in the news.