How to stop Mortgage Payments during the Covid 19 (Corona Virus Crisis)
To proactively ward off damaging your credit there is a Federal support program in place that you can stop or defer payments if you reach out to your current banks (lenders) directly. Preserving the stability of the housing market and the long-term well-being of Canadians has been a major priority during this health challenge.
In order to make it easier – here is a list of most of the lenders in Canada and their contact numbers
B2B 1 800 263 8349
Optimum 1-866-441-3775 or Customer.Service@cwbank.com
Connect First 403-736-4000
Chinook Financial 403-934-3358
First Calgary Financial 403-736-4000
First National 1-888-488-0794 firstname.lastname@example.org (name, mortgage number, property address, inquiry re Covid-19)
Haventree Bank 1-855-272-0051
Home Trust 1-855-270-3630
Street Capital 1-866-683-8090
Verico Lifecycle: 1-855-805-7107
To be able to defer mortgage payments, you must contact the lender directly. I suggest you either record your conversation or get an email confirmation of the details of your conversation. If refinancing to access some equity you have built up on your Edmonton home to help aid you through this crisis or sustain your business, please email me at email@example.com
If you need to access some of the programs available, head over to the Government of Canada website. There is lots of helpful information available.
Our lending community and government remain committed to helping you in every way they can during this volatility. Edmonton mortgage broker Eva Neufeld is here for any advice you may need through this trying time.