Defauting on a USA Issued Mortgage

Does anyone know the real ramifications of defaulting on a USA mortgage loan on US property (when a Canadian resident)? Can it effect your Canadian credit rating? Can a judgement be collected on Canadian assets and/or can it effect border crossings?

i defaulted a year ago on an american loan after moving to europe and not only not selling, but not even having anyone look at my house for about a year being on the market.
no issues as yet, at least pertaining to US entry (not that i do often anyways). i really don't know how it can effect your canadian credit unless canadian lenders/credit services are now looking for an american soc nr. to track for canadian loans.

Thanks for the post but what if a Canadian SIN was used to obatin the loan and not an american social security number.

Well they use the same credit bureaus, so if they can tie you to a Canadian SIN I would think it would definitely mess up your credit. The only real difference between a US and Canadian credit bureau is the number they use to identify you. They can take legal action against you as well, but it's a civil thing so I can't see how it would affect your ability to cross the border.

In theory they can go after your Canadian assets if they get a judgement against you and the house doesn't cover the liability, but it's not likely. Especially given the current mess. Cross-border debt collection is very hard.

Thanks for the post but what if a Canadian SIN was used to obatin the loan and not an american social security number.

i had no idea you could do that!