To Our Valued Customers,
As we’re all aware, COVID-19 has changed how many people in Canada and all over the world will approach and live their lives. We hope that everyone is doing their part to stop the spread of the virus. We currently are doing our part to reduce the spread by continuing to serve our valuable customers as all of our operations are online.
Insurers, CMHC, Genworth, and Canada Guarantee already had programs in place with the banks/lenders that allowed them to defer up to 6 monthly payments. Here are some of the requirements.
1. Original insured loan amount is not exceeded
2. Request to cap payments is received prior to Sept 13, 2020
3. Bank/lender confirms the capitalization is being applied reasonably to help mitigate short-term financial difficulty resulting from COVID-19.
You will need to confirm with your lender and also confirm with your mortgage insurer to determine if you qualify
Genworth Home Assistance – https://genworth.ca/en/homebuyers/homeowner-assistance.aspx
CMHC Home Assistance – https://www.cmhc-schl.gc.ca/en/finance-and-investing/mortgage-loan-insurance/the-resource/dealing-with-mortgage-payment-difficulties
Canada Guaranty Home Assistance – https://www.canadaguaranty.ca/2014/09/the-homeownership-solutions-program-q3/
The programs are facilitated through the banks/lenders and therefore you should be contacting your lender directly for further assistance. Some banks/lenders have their own assistance options as well.
Here is a list of customer service numbers for lenders across Canada.
B2B 1 800 263 8349
BMO – 1-877-788-1923
CIBC – 1-800-465-2422
First National 1-888-488-0794
Home Trust 1-855-270-3630
Royal Bank – 1-800-769-2511
Servus Credit Union 1-877-378-8728
Street Capital 1-866-683-8090
Note: Some Banks are also providing credit card relief.
If you are financed with a credit union that isn’t listed, visit https://canadacreditunions.ca. You will be able to find the contact information for each credit union.
If you have a private mortgage, be sure to contact your broker or private lender. Private Lender’s do not have government-backed programs. Private Lenders fall under the small business category and each case needs to be looked at on a case by case basis.
If you have a private mortgage with an investor with Amansad Direct Lending Group, please email to [email protected]. Please enter “COVID-19 MORTGAGE HELP” in the Subject Line. Clearly explain your situation and how you’d like to be helped. We will try our best to find a solution that works for all parties. If you do not have a mortgage with our group, but still require help, don’t hesitate to reach out. We will review your situation to determine if we can provide you with an offer to get you through this difficult time.
Please be safe and healthy in these trying times. Feel free to reach out for assistance or guidance.
We are open for business during these tough times.
Amansad Direct Lending Group
Brokers For Life Inc. (Brokerage)