Friday, January 07, 2011

How to Deal with Mortgage Payment Difficulties

For many the big splurge over the winter holidays makes a financial dent in their accounts. Often to the point where regular bills can't be maintained. Here is a great article on How to Deal with Mortgage Payment Difficulties from CMHC:

"When unforeseen financial circumstances impact your ability to make regular mortgage payments, it’s important for you to take quick action. With early intervention, cooperation, and a well executed plan, you can work together with your mortgage professional to find a solution to your financial difficulties."

Some solutions include
1. Talk to your mortgage professional
2. Clarify the financial picture
3. Stay informed

There is also a link to a great Government of Canada site Take Charge of Your Debts

Hopefully none of you need this but can pass it on to someone you know!

Read More Here

Best in 2011,
Danielle Millar


Houston real estate said...

Many people find difficulties in paying monthly mortgage payments. This is due to the reason that mortgages are for a very long time and no one has pre-planned all the things previously so they face this kind of difficulties. Payday loans and debt settlement are probable ways to fight against it.

Alberta Oil Sands Investor Abroad said...

Sorry but Payday loans are equal to shooting yourself in your financial head.

I can't express what bad advice this is. The only way to escape financial difficulties that arise is to save money, not carry huge consumer debt and live within your means.

Please no more bad advice!