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March 2020

Found 1 blog entry for March 2020.

Canada Mortgage Deferral COVID 19If you're looking for more information in these uncertain and difficult times, we reached out to our mortgage partner to gather whatever details we could regarding mortgage payment relief for home owners in Calgary during the COVID-19 outbreak. Below is a quick summary.

Insurers (CMHC, Genworth, and CG) already had programs in place with the banks/lenders that allowed them to capitalize up to 4 monthly payments. Today they announced that they will consider extending the program to allow up to 6 months of capitalization provided that:

1. Original insured loan amount is not exceeded
2. Request to cap payments is received prior to Sept 13, 2020
3. Bank/lender confirms the capitalization is being applied reasonably to help mitigate short-term financial difficulty

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