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Document Id : 110
File Type : Microsoft Word
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Canada Fixed Rate Closed Term Mortgage
Prepare a Fixed Rate Closed Term Mortgage with this template form for Canada, which can be customized for use in most Canadian provinces.
Standard provisions of the mortgage include:- Equal monthly payments of blended principal and interest (and taxes, if the lender requires).
- On default, the lender has the right to take possession of the property by distress warrant or by foreclosing on the property.
- The lender has the right to bring legal action to recover mortgage arrears and costs, plus interest and any other amounts owing.
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