CREST REALTY
RE/MAX Crest Realty 1428 W 7th Avenue Vancouver, BC V6H 1C1 Each Office Independently Owned and Operated.
ATTENTION POSTMASTER: Time Sensitive Materials
Karen Carter REALTOR®
604.837.7325
Real Estate Market Report | May 2020
Douglas Park www.LivingDouglasPark.com
Karen@LivingDouglasPark.com www.LivingDouglasPark.com
Published by REAL Marketing (REM) | www.REALMarketing4You.com | 604.841.1739 | ©2020
Visit www.LivingDouglasPark.com for current market activity, community information, and more.
YOUR TRUSTED RESOURCE DURING A CHANGING MARKET Jonathan and Angela-Marie, Instead of the usual statistics this month, Katy Mackenzie, from The Mortgage Group has been kind enough to share information on Deferred Mortgage Payment Programs. If you would like to discuss this option with her, she is happy to take your call. Please see inside for more details! If there is anything you would like information on, help with, or support doing, please go to the Living Douglas Park Facebook page and send a message. I will do my best to assist in any way I can or connect you with someone who can.
Presented by Karen Carter Your Douglas Park Real Estate Specialist
Also, please share on that page, things like a “Thank You” to someone in the community that has gone above and beyond, or a photo of your favourite things in the community. I will be doing a drawing on May 6th, for dinner for four from a local restaurant that is still open for takeout… I had takeout from Sorella’s this past Saturday! :-) To enter, like the Living Douglas Park Facebook page, and if you share a “Thank you” or a photo of your favourite thing in the community, you will be entered twice. Wishing you all the best,
–Karen Carter 604.837.7325 | KAREN@LIVINGDOUGLASPARK.COM
FOR YOUR APPROVAL By signing this approval, you are agreeing to the document as it stands. DocuSign Envelope ID: C2AFA397-60EB-4424-BC44-1CFE00B5546F Please be sure to proofread it, and ensure all the information is correct.
IT IS YOUR RESPONSILIBITY TO CAREFULLY PROOF THIS JOB. Your job will not be sent to the printer if a signed copy is not returned.
Signature: _____________________________
Prepared Especially for Jonathan and Angela-Marie Williamson
Client Job No. File Name
WebsiteBanner_MAY2015-KC
Page Size Colours
RED
GREEN
BLUE
Date: _______________
AG E N T C A R T E R
Thinking Vancouver Real Estate? Think Agent Carter!
Karen Carter
CREST REALTY
REALTOR®
604.837.7325
Connect with me on:
Karen@LivingDouglasPark.com www.LivingDouglasPark.com
MORTGAGE PAYMENT DEFERRAL PROGRAM This is a special program that has been designed to allow mortgage payment deferral for up to six months. Of course, every lender will be treating
WANT TO LEARN MORE ABOUT DEFERRED MORTGAGE PAYMENT PROGRAMS? FOR THOSE IMPACTED BY COVID-19, HERE ARE KATY ’S 10 KEY POINTS TO KNOW: 1. THEY ARE DISCRETIONARY Mortgage payment deferral programs are offered at their sole discretion on a case-by-case basis.
2. NO LENDER IS GOING TO FORGIVE YOUR MORTGAGE PAYMENT
You still pay all of the money you owe, with interest. Just more slowly.
3. YOU MUST DEMONSTRATE TRUE FINANCIAL HARDSHIP
These programs are for people who are genuinely struggling to make their next mortgage payment.
4. IF YOU DON’T FALL INTO THIS DISTRESSED CATEGORY, DON’T CALL YOUR LENDER RIGHT NOW
If you still have an income and have enough money to make your next payment, delay your call to your lender for a couple of weeks.
5. DEFERRING MORTGAGE PAYMENTS WON’T HURT YOUR CREDIT SCORE A lender-approved deferment is not a missed payment and it will not appear on your credit report as a delinquency.
6. DEFERRED PAYMENT PROGRAMS ARE TYPICALLY CAPPED AT SIX MONTHS
If you’re about to miss a payment, call first. Be honest about your circumstances, and have a plan for how you are going to get back on track.
KATY MACKENZIE B.COMM, PFP MORTGAGE PROFESSIONAL
105 - 1385 W. 8th Avenue, Vancouver Tel. 604.612.6970 katy@mackenziemortgage.com www.mackenziemortgage.com
Property tax installments and insurance premiums are entirely separate from these programs and must continue to be paid.
9. OPTIONS ARE AVAILABLE
Deferring the first payment will be easier than deferring the second one, and so on. Right now, the longest reprieve to expect is for six months.
7. COMMUNICATION WITH YOUR LENDER IS KEY
8. A MORTGAGE DEFERRED PAYMENT PROGRAM IS FOR YOUR MORTGAGE ONLY
Lenders also have the ability to refinance your mortgage to pay out other debt, restore your original amortization, hold a payment, or offer you a reduced payment for a specific time.
10. RENTAL PROPERTY INVESTORS MAY BE ELIGIBLE Property investors with tenants who have stopped making their rent payments will also be considered and assessed by the same rigorous standards. Some provincial governments have introduced tenant relief programs. Encourage tenants to apply for these programs, if available.
FOR MORE DETAILS, READ THE FULL ARTICLE AT: https://mackenziemortgage.com/ blog/covid19-mortgagepayment-deferral-programs
Mortgage Payment
m
Deferral Program For
up to six months. payment deferral for ned to allow mortgage ll objective is am that has been desig ently. However, the overa This is a special progr designed for this process a bit differ ng been treati has be am will r progr . This Of course, every lende gh these difficult times help Canadians throu the same, which is to it and not want it. Canadians that need lete this the lender. Please comp sting the deferral from are on the second page form to assist you in reque lender email address I have put together this r’s email address. Most lende age mortg form and send it to your convenience. of this document for your n. Of course, you in a timely fashio red for them to assist the lender’s discretion. r the information requi lende the give will a case by case and at This form ral request is based on defer your ting accep the decision for
this process a bit differently. However, the overall
____________
_ ________________
________
________________
_________
________________
________________ Best Contact Email:
through these difficult times. This program has been
Tell Your Story below
_____
________________ _____ Phone Number:
________________
________ Address: ________
________________
objective is the same, which is to help Canadians
______________
____ _ Mortgage Number:
________________
________________
________ Name(s): ________
on
e give as much detail
for the deferral. Pleas why you are applying
as possible.
designed for Canadians who need it, not just want it.
“I have put together a form to send to your
lender and assist you in requesting the deferral. Please contact me today to receive the form or ask any mortgage questions you may have! – Katy Mackenzie
”
ral Program Form - Page
Mortgage Payment Defer
1
LIST OF LENDERS FOR YOUR CONVENIENCE: ALTA West: 1-888-554-9075 collections@awcapital.ca
First National: 1-888-488-0794 customer@firstnational.ca
ATB: 1-800-332-8383
First West: Contact Branch Direct
B2B: 1-800-263-8349 questions@b2bbank.com
First Ontario: Contact Branch Direct
Bridgewater: 1-866-243-4301 Customer.experience@bridgewaterbank Calvert: 403-278-0249 Dale@chmic.ca Cedar Peaks: 403-249-2007 info@cedarpeaksmortgage.ca
Fisgard: 1-866-382-9255 Genworth: 1-800-511-8888 homeassist@genworth.com Haventreebank: 1-855-272-0050 mortgageservicing@haventreebank.com Home Trust: 1-855-270-3630
CMLS: 1-888-995-2657 service@cmls.ca
ICICI Bank: 1-866-726-0825 icicibankmortgagecare@lenderservices.ca
Coast Capital: Contact Branch Direct
Manulife Bank: 1-877-765-2265
Eclipse: 1-866-800-4002
Marathon Mortgage: 1-855-503-6060
Equitable: 1-888-334-3313 customerservice@eqbank.ca
MCAP: 1-800-265-2624 service@mcap.com
Meridian: Contact Branch Direct Merix/Lendwise: 1-877-637-4911 customerservice@merixfinancial.com Optimum: 1-866-441-3775 customer.service@cwbank.com RFA: 1-833-228-5697 rfamortgages@lenderservices.ca RMG Mortgages: 1-866-809-5800 mortgagesupport@rmgmortgages.ca Scotia Bank: Contact branch Servus Credit Union: 1-877-378-8728 Street Capital: 1-877-776-6888 support@streetcapital.ca TD Canada Trust: 1-866-222-3456 TMG Branded: 1-855-288-4855
Karen Carter, Katy Mackenzie, and RE/MAX Crest Realty are not in any way affiliated with Douglas Park Owners Association, nor is this in any way an official advertisement or publication of Douglas Park. © 2020 All rights reserved. E&OE covered. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. Each office independently owned and operated.