Mortgage Deferral Program
As the Mortgage Deferral Program comes to an end for many, remember: deferring your mortgage payments still means you’ll have to pay both the principal and the interest. It is vital to understand the agreement between you and your lender, and have a plan to payback the skipped payments.
If, at any point in this crisis, you think you won’t be able to make your regular mortgage payment, it’s important for you to take quick action. Contact your bank or mortgage professional immediately before you miss a payment.
To understand more about mortgage deferral, visit the Canada Mortgage and Housing Corporation website