Mortgage Deferrals During the Covid 19 Crisis

As COVID 19 hit Canada over the past weeks and many non-essential businesses shut their doors, many Canadians have had their hours cut, wages cut or have had to rework their jobs due to homeschooling their children or helping with elderly family. The reasons for income reductions are endless.  We are almost all negatively impacted and many of us have moved to (or are moving towards) a negative cashflow situation. 

You cash flow is very simply the money coming in, less the money going out. There are only 2 ways to change your monthly cash flow, reduce your monthly cost or increase your monthly income. 

If you are in a negative cash flow situation, do not deplete all of your savings or emergency reserves if a mortgage deferral is available to you. 

Check out our video for more!