Is it crazy to think that it has already been a full month since we as a nation have taken action to flatten the curve of COVID-19? This “new normal” still comes with many changes almost daily as we all continue to practice self-isolation and social distancing.
We again as a team would like to extend a helping hand to any and all of you who need it—we are here to help you and ease the burden. We are continuing to monitor rates daily for you, assist with the deferral process, and walk you through these uncertain times as it relates to the mortgage and housing industry.
While there were not any major announcements made regarding the mortgage industry this week, we felt it would be useful to provide you with a list of resources and information. We hope you find this useful. As always, never hesitate to reach out to us with questions, concerns–We are here for you.
MORTGAGE INDUSTRY
This week, many lenders started offering online options to defer your mortgage payments. This has made it easier to defer a payment if needed and allows you to avoid the wait times over the phone.
We have collected links to the “Big 6 Banks” below that are offering online mortgage deferral. If your mortgage is funded through a different financial institution or lender, we highly encourage you to visit their website or phone them for more details (phone number list included below)
–RBC
–CIBC
GOVERNMENT FINANCIAL AID
During these unprecedented times, we know that many individuals are facing financial hardships and uncertainty. The Federal Government has announced a number of measures throughout the past 4 weeks regarding financial aid for those who need it. While this list is by no means exhaustive, here are a few of the main initiatives:
- Financial help for Individuals
- Financial help for businesses
- Canada Emergency Response Benefit (CERB)
- Summary of Economic Response Programs
UTILITIES
BC has recognized that many families are at home more and that means an increase in the usage of utilities! Many companies have opted to offer credits, deferment, and aid during the COVID-19 pandemic. Below are links to the utility companies that are offering aid to their clients:
We hope that these links and resources can help you and alleviate some of the stress you might be facing. We also have an entire resource page available with links to all these and more to help you during these uncertain times.
