TagCOVID-19

Posted April 16, 20201 Comment Finance

Financial Outlook with Jean-Francois Perrault, Chief Economist Scotiabank

Following are the highlights from a telephone conversation with Jean-Francois Perrault, Chief Economist Scotiabank and John Webster, President and CEO Scotia Mortgage Corporation which took place on Thursday, April 9, 2020 at 4:30 p.m.

First, it’s not all bad news. While I’ll have to include some unpleasant information in order to provide a complete picture, that is not the focus.

Posted April 10, 20201 Comment Mortgage News

How are things?

Hope this update finds you well. First, let’s make sure you are okay. We will get through this. I guarantee it! I’ve been through the 2008-09 US subprime mortgage crisis, the SARS 2002 crisis, and the 1990 real estate collapse. We recovered from all of those terrible times and we will recover from this. I am here to help you in any way possible. Don’t hesitate to call on me for assistance.

The government has been announcing new programs to provide financial assistance almost daily. And there have been just as many amendments to those programs as they work to fine tune the programs.

I want to make sure you are informed with accurate info. There’s been so much junk articles posted in the mainstream and social media outlets. Let’s block out that junk and focus on reality.

Q and A | Jenelle Cameron of Remax Hallmark In Conversation with Steve Garganis of Mortgage Architects

Posted April 3, 2020 Mortgage News

Q & A | Jenelle Cameron of Remax Hallmark In Conversation with Steve Garganis of Mortgage Architects

Q&A | Jenelle Cameron In Conversation with Steve Garganis of Mortgage Architects

I participated in a Q & A with one of my good realtor friends, Jenelle Cameron of Remax. We had a chance to discuss the current impact of COVID-19 on mortgages and the real estate market in general. Find out the latest on mortgages, what’s happening with closings during this time, and more!

What we know about government programs for COVID 19

Posted March 31, 2020 Finance

Government programs for support during COVID-19 – what we know so far

With government announcements coming daily it can be hard to keep up. Here is a quick summary of what we know so far and what is still being clarified.

Posted March 24, 2020 Mortgage News

6 month mortgage deferral will help, not harm, despite what media say.

We’ve all heard about the 6 month deferred mortgage payment option. It was thrown out there by the government in an attempt to help property owners. We now have some more info that I’d like to share.

I’m getting a little sick and tired of the media being so negative and pessimistic. The banks and other financial institutions are offering to defer mortgage payments for 6 months. This is GOOD news. While it might not seem that way if you read some of the media posts, let’s clear things up:

NO, it won’t harm your credit rating.
NO, it isn’t expensive. Read on…
NO, this isn’t automatic. Your mortgage payments will not be forgiven for 6 months without calling anyone. But most lenders are happy to postpone your payments without much fuss.

Continue reading “6 month mortgage deferral will help, not harm, despite what media say.”