‘Mortgage Minutes’ From Zero-Sixty… on the daily

How May I Help You?
This remains the #1 question to ask anyone and everyone – on the daily.

How Do We Help One Another Remain Engaged & Positive?
Through time invested together – on the daily...

One way is most certainly by having a read of this delightful piece.

Another is remaining calm – here is a link to an idea that might work for you and your family.

And yet another is by signing up for this weeks series of Zoom’s. Signing up once will give you access, and a daily reminder one hour prior, to each day’s session.

When: Monday Mar 30 – Sat April 4 @ 9AM Pacific / Zoom @ Noon Eastern
Topic: Daily State of Affairs / Daily Q&A
Please click here to register in advance for the entire series

Vimeo Links; Yours To Share

Links for you to use as you like, if you like, to offer detailed answers to some of the common questions of the moment;

1. To DeferOr Not To Defer?
2. Why are interest rates rising & falling all at once?
3. Lock-in, or stay variable?
4. New Mortgage? Fixed Vs. Variable (as at March 22, 2020)

These clips are not as short as I’d like – but then again the point of them is client oriented detail – to save you 30 – 60 minutes on the phone.

Past Zoom Sessions

Saturday – March 28
Friday – March 27

Posting additional days creates too much content to consume, and runs the risk of it being dated material given the pace of change.

A Detailed Daily Summary

Rate Spy – Daily Update – Click Here

Deferral News:

Facebook Live clips RE; The Math & What About Credit Cards?

News From Two Major Lenders;

TDCT now has an online form for mortgage payment holidays (deferrals). 

  1. Log into EasyWeb
  2. From the Accounts page click on “Mortgage”
  3. From the Mortgage Account Activity page click on “Take a Payment Vacation” located on the upper left
  4. Complete the form and submit
  5. Client will receive an email response from TD – this may take a few days.

Hopefully this helps those who’ve endured long hold times and were unable to get through to TD Customer Service.

Scotia now has new policy and process.
Customers may now defer mortgage payments associated with up to four properties, including primary and rental/secondary homes.

Deferral request can be made through the COVID-19 page on Scotiabank.com or by calling 1-800-4SCOTIA (1-800-472-6842

A mortgage payment deferral means that customers are not required to make regular payments (principal, interest and property tax, if applicable) on their mortgage for up to six months. During the time mortgage payments are deferred, it is important for customers to understand that interest will continue to accrue and will be added to the mortgage account balance at the end of the deferral period. This means the payments will be slightly higher after the deferral period ends.

You may restart the payments before the end of the deferral period, with a minimum of two weeks’ notice.

Evan Siddall clarified that CMHC multi-unit insured commercial mortgages (apartments) can be deferred.
“CMHC’s aid measures also extends to landlords. We actually have to give help to landlords so there’s no compulsion to evict. A number of provinces have enacted eviction prohibitions – it’s going to be hard to evict anybody right now,” he said. “But we’re giving support to all the multi-unit insurance clients at CMHC and that’s a huge amount of the marketplace – people who have constructed or bought multi-unit buildings and have tenants, we’re extending the same or similar support to them in return for a no-evictions agreement.”

Appraisal Updates

1. A video update on the state of affairs with appraisals from Leigh Walker; 


Please feel free to share this email, with all it’s links and invitations, with an industry colleague. Now is not the time to hoard information of have ‘company exclusive’ intel. That was not my style in the best of times, and in these current times it certainly will not change.

Lastly… The most important statement to make to everyone and anyone all day every day…

Thank you!

Dustan Woodhouse

P.S.   I’m all about being as connected as possible, so by all means please connect with me via Facebookand/or LinkedInand/or Goodreads and be sure to join the Be The Better Broker FaceBook group.