Economic recession in Canada has led to a surge in mortgage defaults, with bank foreclosures tripling over the past year. Approximately 10% of homeowners are struggling to pay installments, particularly those who bought properties during the 2020-22 boom. Despite the Bank of Canada lowering interest rates from 5.5% to 2.5%, falling property values (down 25-35%) and reduced rental income from basements have left many owners in financial distress. https://www.punjabitribuneonline.com/news/diaspora/people-in-canada-are-unable-to-pay-their-home-loan-installments-the-rate-of-house-foreclosures-by-banks-has-increased/ #Creator program