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To: kidl who wrote (91725)12/17/2011 11:17:41 AM
From: loantech  Read Replies (1) | Respond to of 233882
 
Kidl no doubt a better system up there. Many things I admire more about the Canadian system than our own down here. I want to move to Canada but you have to let me know when the temperatures are 30 degrees warmer first. <G>

You usually have a minimum of 6-12 months to make payments here on your home problem is in some cases if you fall behind then the lender demands all 6 months at once. Foreclosure can start I think after missing payments for over 90 days but not sure.

RYE is tempting but I can lose enough $$ on "sure" bets with producers. So will leave it alone.

Best of the Holidays to all our Canadian friends.

tom



To: kidl who wrote (91725)12/18/2011 8:47:08 AM
From: hank20101 Recommendation  Read Replies (2) | Respond to of 233882
 
I am not so sure things are that different in Canada re claims. Friend of mine did years of work and brought claim to lease in Ontario, optioned the property to a junior (Champion Bear), who insisted the lease be transferred to their name with an agreement that the lease be returned to the prospector if option was dropped. Champion Bear missed the lease payment. Ontario government said "so sad, too bad, nothing you can do". another prospector re-staked the property. Champion Bear said "sue us".

While I have heard that one can get extensions of time to file work on claims in Ontario, if you wait until they have lapsed they are open to staking, and if someone else stakes them in the meantime ????

Ontario has work requirements rather than fee to government, and work has to be filed in an acceptable format etc., then it becomes public. that is a better system as it avoids duplication of work and builds a database of geological info.