COVID-19 & Mortgage Payments
March 18, 2020 | Posted by: Natalie Wellings
If your mortgage is insured (this means you put less than 20% down) please be assured that the insurers (CMHC, Genworth & Canada Guaranty) are working with mortgage lenders to provide payment relief to those affected by this crisis.
CMHC is also working on other options for uninsured mortgages (conventional mortgages). More to come on this once official news comes in.
The big 6 banks have announced payment deferral on a case-by-case basis. I expect the monoline (non-bank) mortgage lenders to also come on board with this shortly. Again, this is currently only being offered on a case-by case basis. So, if something happens to your finances as a result of this crisis you will need to reach out to your lender, explain the situation and they will let you know what they can offer you.
You may have to wait for some time on the phone to reach an agent; they are working as hard as they can to get to every call in a timely manner but, as you can imagine, hold times can be long.
Things are moving rapidly so this information might change at any moment. I will keep my facebook page updated: https://www.facebook.com/youredmontonmortgage/
I am here to help you if you have questions regarding your mortgage during this stressful time. Please reach out to me if you need assistance.
Stay healthy & I will be in touch with more information as soon as I have it!
ATB Financial 1-800-332-8383
B2B 1-800 263 8349
BMO Financial Group 1-877-895-3278
Bridgewater Bank 1-866-243-4301
CMLS Financial 1-888-995-2657
Optimum Mortgage 1-866-441-3775
Equitable Bank 1-866-407-0004
First Calgary Financial 403-736-4000
First National Financial LP 1-888-488-0794
Haventree Bank 1-855-272-0051
HomeEquity Bank 1-866-331-2447
Home Trust Company 1-855-270-3630
ICICI Bank 1-866-726-0825
MERIX Financial 1-877-637-4914
National Bank 1-888-835-6281
RFA (formerly known as Street Capital) 1-877-416-7873
Servus Credit Union 1-877-378-8728