As the world pandemic continues, Canada and especially Manitoba are leading in flattening the curve. However, the slowing of the economy has been felt in the number of businesses closed and people filing for employment insurance.
This is leaving many mortgage holders and first time homebuyers in the lurch. Should they defer payments, refinance, sell their home, buy a new home, or continue with their pre-approvals.
The devil is in the details. Every person and family are going to have a very unique set of circumstances and knowing their numbers is the key. Not only do they need to know their numbers, but we need to formulate back up plans as some banks and credit unions are being very cruel when it comes to offering assistance.
As an advisory based mortgage brokerage team we are happy to speak to your clients and see what the best course of action may be for them. Please watch our video below and subscribe to our YouTube Channel.