How your mortgage broker can help you navigate uncertain times.

By Janet Kelly

Navigating uncertain times is always a challenge, whether it is business, relationships, or finances. Due to these current, extraordinary circumstances, many have gone through some ups and downs personally and financially. If you’ve experienced the latter, your mortgage professional can help you navigate the waters and help you weather the storm.

How can your local mortgage professional help?

Your mortgage broker will work with you and the lender to find financial solutions to fit your current situation and needs now and in the future.

Canadians are seeing some of the lowest mortgage rates in years, making the present a good time to refinance your home. This can help to reduce your payments, pay down your principal sooner, or access some of the equity you have built up in your home. You might benefit from a home equity line of credit (HELOC) to cover short term expenses if you think you might be out of work for some time.

Mortgage brokers offer guidance

The first step in navigating uncertain times is to have a plan. Mortgage professional are in constant contact with lenders and have the most up to date information on products, services, and policy changes. Your mortgage broker can help you create a financial plan and guide you in making your decision.

If you’re an existing homeowner with a mortgage, there are resources available to help you through this difficult time. Some lenders and insurers are offering deferred payments and other forms of financial assistance to help you if you’re in need. This resource page has up to date information on the evolving situation as well as contact information for all major mortgage lenders and insurers.

Mortgage brokers can keep you informed

Mortgages payments shouldn’t be the main concern for homeowners at this time. Therefore the government, lenders, and insurers have announced changes to support borrowers during the fight against the spread of COVID-19. Your unbiased mortgage professional has access to resources from your lender, bank, and insurer and can help guide you on what to do if you are unable to make payments or are looking for additional support. If you’re having trouble finding contact information for your bank, lender, or insurer, use this resource page.

Mortgage brokers want you to focus on your health and being with your family, not stressing over your mortgage. Your mortgage brokers will help keep you up to date with policy changes and new programs to help you reduce your stress and get back to the things that matter.

Working with an unbiased mortgage professional ensures that you will be supported, regardless of the situation you need to navigate. Mortgage brokers have the experience and resources you need to support you with your financial goals. If you’re worried about your financial situation and how that might impact your mortgage, get in touch with Clinton Wilkins Mortgage Team or call 902-482-2770.

For more Mortgage 101 tips on this topic, click here to listen to Clinton Wilkins on The Todd Veinotte Show on (Saturday, March 21, 10am segment).

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