Things to know.
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There are several options and programs available to you.
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Not all Canadians are eligible for all programs, so it’s best to get in touch with us.
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No lender will forgive your mortgage payment. However, you may qualify for a deferred mortgage payment program.
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Genuine financial hardship may need to be demonstrated to qualify for some programs. Be sure to follow the steps below so we can assess your needs accurately.
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If you’re going to miss a mortgage payment contact your lender immediately. Be honest and communicate diligently.
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If you own rental properties there are options available to you. Follow the steps below and contact us immediately.
Understand your expenses.
The first step is understanding your expenses and a monthly budget. We need to understand how much money you require each month to determine the path that’s best suited to you. It is essential to understand all of your monthly costs, well beyond just your regular mortgage payment.
Our goal is to make sure you can carry on with life without any sacrifices.
Review your budget.
Now that we’ve reviewed your budget and expenses let’s take a deeper dive to better understand the big picture. In addition to the monthly payments, summarize your total debt balances for your current mortgage as well as any other loans you may have.
Our mortgage experts will help you create two plans:
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A short-term plan for the next 6-12 months
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A long-term plan to help you once your back to work and things are normal again.