I think we are on the leading edge of unknown economic impacts from the Covid-19 virus.
I wanted to get this information into your hands sooner, rather than later.
Here’s what I have for you:
1. Mortgage payment deferral program.
2. Mortgage lender customer service lines.
Mortgage Payment Deferral Program:
Mortgage lenders and I have confirmed that all Mortgage default insurance companies are offering help to those struggling during these tough times with up to 6-months payment deferral/capitalization as well as other solutions.
This can mean:
- Offering a temporary short-term payment deferral.
- Extending the original repayment period (amortization) in order to lower your monthly Mortgage payments.
- Adding any missed payments (arrears) to the Mortgage balance and spreading them over the remaining Mortgage repayment period.
- Offering a special arrangement unique to your particular financial situation (Government imposed work stoppage due to Covid-19 might apply).
NOTE: The above information is from CMHC’s website and for general information illustration purposes.
That said, please take action if there is a possibility of missing a Mortgage payment(s).
In times of financial difficulty, please do the very best one can to preserve credit. Please explore all available options that might help you. I am here to help you, reach out.
Visit this link for more information:
Mortgage Lender Customer Service Lines:
Here is a database of Mortgage lender hotline phone numbers that I’ve compiled for you.
These numbers might be of use for you, your colleagues, friends or family. Please share.
ATB 1-800-332-8383
B2B 1 800 263 8349
BMO 1-877-895-3278
Bridgewater 1-866-243-4301
CIBC 1-800-465-2422
CMLS 1-888-995-2657
Optimum 1-866-441-3775
Equitable 1-888-334-3313
Connect First 403-736-4000
Chinook Financial 403-934-3358
First Calgary Financial 403-736-4000
First National 1-888-488-0794
Haventree 1-855-272-0051
Home Trust 1-855-270-3630
HSBC 1-888-310-4722
ICICI 1-888-424-2422
Manulife 1-877-765-2265
MCAP 1-800-265-2624
Merix 1-877-637-4911
Marathon 1-855-503-6060
RBC 1-866-809-5800
RFA 1-877-416-7873
RMG 1-866-809-5800
Scotia 1-800-472-6842
Servus 1-877-378-8728
Street Capital 1-866-683-8090
TD 1-866-222-3456
The Federal Government should be announcing a loaded fiscal stimulus package Wednesday. I hope this will bring direct relief to many of your home finances.
Thank you and talk soon,
Chad Moore
P.S
I’m healthy and I hope you are too!
P.P.S
To continue helping you, my business is fully operational as I am working remotely with clients all over Calgary and Alberta.
