Mortgage Payment Deferrals
Further to the news article on Canada's big banks to allow mortgage payment deferrals, most other lenders are as well.
Full list of BANK servicing numbers for your clients - Thanks to our in house mortgage Brokers Stefan Cherwoniak & Cheryl Wilkes of DLC Brokers for Life.
** Call volumes will be very high**
Recommend calling later in the evening or early in the day to avoid long wait times. I’m also saying to our clients if they have the capacity to wait a week or two before calling they won’t be on hold for hours
To be clear of how deferred payments work, in some cases they get added to the end of the mortgage but as we learned in Ft McMurray some of the banks want that money back before that time. If at the end of their term it hasn't been paid back some will want it then only a few actually just capitalized it into the new mortgage - PLEASE CONFIRM with your bank HOW this will work at your lender.
Here is a list of customer service numbers:
B2B 1 800 263 8349
Connect First 403-736-4000
Chinook Financial 403-934-3358
First Calgary Financial 403-736-4000
First National 1-888-488-0794
Home Trust 1-855-270-3630
Street Capital 1-866-683-8090
Servus CU 1-877-378-8728
Here is the list of websites:
First Calgary Financial