Canada Mortgage Direct and many Lenders join Canadians across the Country in expressing our concern for the people of Fort McMurray and the surrounding area that are dealing with unprecedented forest fires.
Property owners that have been affected by these fires may experience financial hardship as a result of temporary evacuation or from the need to rebuild or repair their homes. As a result, lenders encourages homeowners to contact their mortgage lender or mortgage broker Customer Service team at the first sign of difficulty to discuss their individual situation.
For those impacted, lenders will look at the following options to help customers through this difficult time:
* Deferral of payment
* Re-amortization of the loan to result in lower payments
* Capitalization of outstanding interest arrears and other eligible expenses
* Special payment arrangements
If you have questions or need lender contact information, please do not hesitate to reach out to our office.
~ Tim Lacroix
Our prayers are with everyone affected by this devastating situation!