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Breaking News from CMHC: 6-Month Mortgage Payment Deferral Program & Links to Federal Programs Available

Mar 24, 2020

Hope you and your families are doing well.  Below are some tools to assist you.

Good news for multifamily properties (5+ units) insured by CMHC. CMHC will allow approved lenders to defer up to six monthly mortgage payments (principal and interest) for borrowers impacted by COVID-19.

Here are the links:  CMHC Cover Note and Eligibility Criteria

CMHC's Questions and Answers

And here are links for the Federal Government's Relief programs put together by my accountants.

Federal Relief Programs

First National COVID-19 Guidelines

The "Scary Times" Success Manual (10 great advice)

Be well!

Pierre-Paul

 

 

 

 

 

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"Every person who invests in well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming independent, for real estate is the basis of wealth.” - Theodore Roosevelt, U.S. president