Bank of Nova Scotia T.BNS

Alternate Symbol(s): BNS

Financial Services

The Bank of Nova Scotia is a bank in the Americas. The Bank offers a range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. Its segments include Canadian Banking, International Banking, Global Wealth Management and Global Banking and Markets. The Canadian Banking segment provides a full suite of financial advice and banking solutions to retail, small business and commercial banking customers. The International Banking segment is a diverse franchise with Retail, Corporate, and Commercial customers. The Global Wealth Management segment is focused on delivering comprehensive wealth management advice and solutions to clients across its footprint. The Global Banking and Markets segment provides corporate clients with lending and transaction services, investment banking advice and access to capital markets.

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Bank of Nova Scotia > can someone break down the situation very step by step?

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Comment by Rakaposhion Oct 03, 2023 6:26pm

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Post# 35667947

RE:RE:RE:can someone break down the situation very step by step?

Mortgages in Canada (Except Alberta, Saskatchewan and Quebec... I believe) are full recourse mortgages. Much different than in the US. If you default (assuming you are not CMHC insured), the bank goes after ALL your assets, not just the house to be made whole. Therefore, Canadians will do whatever it takes to pay their mortgage.

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