Mortgage Payment relief

COVID Financial Resources

PUBLISHED BY Alwin Wong / July 7, 2020

6-month payment deferrals for mortgages, relief on other credit products.

WHO CAN APPLY

Mortgage holders experiencing hardships caused by the COVID-19 crisis.

WHAT TO DO NEXT

Contact the bank you hold your mortgage with (most banks still have branches open or offer online/phone support). Relief is being offered on a case-by-case basis with each bank having a slightly different process. CMHC and other mortgage insurers are offering tools including payment deferrals, loan re-amortization, capitalization of outstanding interest arrears, and special payment arrangements.

CMHC UPDATES

Alwin Wong

Alwin is the Growth Manager at Moves and a part-time freelance photographer. With the rise of the gig economy, he is excited by a world where people can have greater flexibility over their work and challenge the norms of having a traditional 9-to-5 job. Alwin is also an avid travel enthusiast and Toronto Raptors basketball fan.

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