It’s not all bad news out there during this COVID-19 crisis. In an effort to relieve home owners, Canada’s big 6 banks (links: Bank of Montreal, Bank of Nova Scotia, CIBC, National Bank of Canada, Royal Bank of Canada and TD Bank all announced offers of financial assistance and up to six months of mortgage deferral.
The banks “have made a commitment to work with personal and small business banking customers on a case-by-case basis to provide flexible solutions to help them manage through challenges such as pay disruption due to COVID-19; childcare disruption due to school closures; or those facing illness from COVID-19,” according to an announcement by the lenders.”
Additionally, BMO’s financial relief program could defer loan and credit card payments, with the lender saying it would additionally waive the change fee for clients who used its rewards program to book travel plans.
As this virus and our nation’s response continue to evolve, rest assured that myself and the Judy Marsales team are here for our buyers and sellers and remain committed to your health and financial well-being.
If you have any questions or concerns, or are just looking for advice, I’m here for you.
Contact me at xxxx
Learn more about the Big 6 Decision here.