4 months ago


Scope of

Scope of CCMA Who does it Apply to? • Applies to mortgages on primary residences only (PDH). • Primary Residence: means a property which is: a) the residential property which the borrower occupies as his/her primary residence in this State, or a) a residential property which is the only residential property in this State owned by the borrower • Any other properties that are cross-secured on a CCMA loan (primary residence) are also entitled to CCMA protection. • Example:RIPs – Unless it’s the only property in the state.