Canadian banks show us how it's done

In recessionary times, it would seem that Canadian financial institutions remain true to form. By that I mean, Canadian banking professionals are again seeking to be proactive and flexible in dealing with that nation's current residential mortgage troubles. It is my opinion that our American bankers could have dampened a fair amount of our current economic turmoil by taking a smart and compassionate page from the Canadian mortgage industry playbook.

A quick and interesting article from Tara Perkins, at globeandmail.com, reveals how Canadian bankers have solicited their customers to come in for help with problematic mortgage payments. It would seem that, unlike their American counterparts, Canadian bankers like to deal with tough scenarios before the dung hits the fan.