Cost of Mortgage Payment Deferral in Canada Due to Covid-19 | Regina Mortgage Broker Explains
Mortgage broker from Regina Saskatchewan, Kevin Carlson explains the costs associated with deferring mortgage payments due to job loss due to Covid-19 (Coronavirus). This video makes it clear that even though payments can be deferred, the interest will most certainly not stop and will more than likely increase your mortgage balance owing.
Over the last few weeks, banks and mortgage lenders in Canada have worked hard to respond to their clients that are looking to defer their mortgage payments. The Covid-19 / Coronavirus pandemic has created the largest customer service need on the banking industry in the last 50 years or more. It is crucial that homeowners remain patient with their mortgage lender when trying to apply for payment deferral.
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Kevin Carlson – Mortgage Broker – FCAA Lic. #315902
Dominion Lending Centres – The Mortgage Firm – FCAA Lic. #316454