Knowledge is power, and when it comes to making a major life decision, you want to make it a powerful one that you’ll feel great about. Our blog is designed to communicate the latest news about industry changes, as well as our thoughts on smart purchasing. Keep up to date with the latest news from BROWNE Mortgages + More right here–because we’re not going anywhere, and mortgage news never gets old or stops.

The easy, hassle-free answer to your mortgage needs.

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Do you need to skip a mortgage payment?

Do you need to skip a mortgage payment?

Here are 2 important facts you need to know:
  1. Bank call volumes are at an all-time high. If you’re unable to connect over the phone, we suggest emailing your lender, be sure to include your full name, mortgage number, and request. Response time may reach up to 48 hours. Email support can be found on your lender’s website.
  2. Payment deferral is not a guarantee and is treated on a case-by-case basis. The lenders will review your employment and assets, so be prepared to provide personal information.
If you’re unable to contact your lender or locate your lender’s contact information. Please reach out to our team, as always we’re more than happy to help.

B2B

1-800 263 8349

questions@b2bbank.com

Blue Shore

1-888-713-6728

https://www.blueshorefinancial.com/AboutUs/MediaCentre/WhatsNew/03132020/

BMO

1-877-895-3278

https://www.bmo.com/main/personal/bmo-branches-coronavirus-update/

Bridgewater Bank

1-866-243-4301

customer.experience@bridgewaterbank.ca

CIBC

1-800-465-2422

https://www.cibc.com/en/contact-us.html

OR

ombudsman@cibc.com

CMLS

1-888-995-2657

service@cmls.ca

Coast Capital

1-800-517-7000

https://www.coastcapitalsavings.com/contact/promo?opt=relief&sfprepop_sf_campop=MemberFinancialReliefProgram

Envision

1-888-597-6083

https://www.envisionfinancial.ca/covid-19

Equitable

1-888-334-3313

customerservice@eqbank.ca

First National

1-888-488-0794

customer@firstnational.ca

Haventree

1-855-272-0051

MortgageServicing@haventreebank.com

Home Trust

1-855-270-3630

vancouverbranch@hometrust.ca

HSBC

1-888-310-4722

https://www.hsbc.ca/contact-us/

ICICI

1-888-424-2422

https://www.icicibank.ca/abouticicibank/aboutus/default.page

Manulife

1-877-765-2265

https://www.manulifebank.ca/support/financial-relief-mortgage-form.html

MCAP

1-800-265-2624

https://www.mcap.com/residential-mortgages/customers/customer-service/forms/contact-request

Merix/Lendwise

1-877-637-4911

https://www.merixfinancial.com/marketing/COVID-19-questions.pdf or cap@paradigmquest.com

Marathon

1-855-503-6060

info@marathonmortgage.ca

Optimum

1-866-441-3775

customer.service@cwbank.com

Prospera

1-888-440-4480

PaymentDeferral@prospera.ca

RBC

1-866-809-5800

https://www.rbc.com/covid-19/index.html

RFA

1-877-416-7873

Select a phone number below based on the first digit of your mortgage number.

Numbers Starting with 4
customer@rfabank.net

Numbers Starting with 6
support@streetcapital.ca

Numbers Starting with 7, 8 or 9
rfa@lenderservices.ca

RMG

1-866-809-5800

mortgagesupport@rmgmortgages.ca

Scotiabank

1-800-472-6842

https://www.scotiabank.com/ca/en/personal/scotia-support/latest-updates/coronavirus-covid-19.html

Street Capital

1-866-683-8090

customerservice@streetcapital.ca

TD

1-866-222-3456

https://www.td.com/ca/en/personal-banking/covid-19/

Westminster Savings

1-877-506-0100

https://www.wscu.com/Personal/AboutUs/ContactUs/Contact/

Mortgage Payments Suspended in Italy due to Coronavirus (COVID-19)

Mortgage Payments Suspended In Italy Due To Coronavirus (COVID-19)

In a surprising twist today Italy suspended the payments of all mortgages for the foreseeable future due to the Coronavirus outbreak.  This was done to help the public as Italy has instated a “lockdown” where the public is only allowed to travel to and from work and for emergencies.

This is obviously going to affect employment throughout the nation as places of employment such as movie theaters, Museums and sporting events.  All people will be without pay from various other industries where gatherings happen such as restaurants.

Who will this affect?

Homeowners – Obviously this will help support those who own homes as they currently are talking of suspending mortgage payments for up to 3 months.   There is still an additional cost to running a home such as insurance, taxes, and utilities.  While it will be a relief there will still be expenses

Renters – At the time of this writing there was no talk about suspending rents.  I would be shocked if the government only gave a reprieve to homeowners while renters still had to pay.

Investors – If the government does suspend rental payments people that own multiple rentals or rental buildings will be hit.   While yes they will not have to pay the mortgage payments on the property (if they have one) but they will still have to pay all the cost associated with carrying that rental while having no income coming in.

We like to think that this is a problem halfway around the world but considering just two weeks ago (Feb 25th) Italy only had 280 cases and now close to 10,000 just shows how quickly things can change.

Strata Fee Increase & Lowering Your Payments

Strata Fee Increase & Lowering Your Payments

We’ve recently been informed by strata insurance companies in our local area, that people who are currently in stratas could be looking at a 30% – 100% Increase in the strata insurance. This will cause a increase in your strata fees.

If you are in a strata & are looking to consolodate or lower your mortgage payments to cover this, please give us a call!