Mortgage Deferral Questions?


With the economic landscape quickly shifting, people’s employment situations are changing, many lenders are offering mortgage payment deferrals if needed… Where does one start? This subject can easily feel overwhelming, but our friends at Browne Mortgages have got you covered! 


If you have a trusted mortgage advisor please call them for updates; but if you don’t:


The financing experts at Browne Mortgages have compiled a list of banks offering mortgage deferral plans, as well as their contact information.

Mortgage payment deferrals can help you during times of financial hardship — loss of employment due to the Coronavirus (COVID-19) outbreak.

The deferral is an agreement between you and your lender. It’s also known as a mortgage payment deferral agreement and is considered a temporary measure that in most cases does not affect your credit rating as it has been agreed to by yourself and your lender ahead of time.


Global News recently reported: "Before deferring any payments, financial experts say to check with your lender about their deferment options to make sure they are available. Generally, defaulting on payments would hurt your credit score, however, if you were given the green light you should be okay.

If a lender has given you permission to make payments, without penalizing you, then they should not be reporting that to your credit bureau, so you want to make sure you’re checking your credit regularly,” said Kelley Keehn, FP Canada Consumer Advocate."

The mortgage deferral agreement does not cancel, erase or eliminate the amount owed on your mortgage. At the end of the agreement, you will have to resume payment according to your regular payment schedule.


If you have been preapproved, be sure to talk to your broker about mortgage rates and interest rates today.





You'll be seeing alot of us.

We’re looking forward to it.

Ranj

Ranj Takhar
Realtor
ranj@ranjtakhar.com (Email)

Born in Abbotsford and having spent most of my childhood here, my roots are firmly planted in this community. My wife and I are the proud parents of three young kids who we’ve chosen to raise in Abbotsford as well. We’re also avid property investors. My passion for real estate is only exceeded by my love of my family.


Professional excellence drives my every decision. Starting out in real estate, I mentored under industry leaders to learn best practices. After nearly a decade in the business, I hired one of the top coaches in North America to work with me every week to ensure I excel even further. And I’m applying all my knowledge and client dedication toward building one of the best real estate businesses in the Fraser Valley, founded on my high standards of service.


Whether you’re a first-time home buyer or a seasoned investor, you deserve the highest level of service. My team and I will ensure you get it. No matter your problem, if it’s real estate related, I’ve been there and can solve it.

Marina

Marina
Administrative Manager
marina@ranjtakhar.com (Email)

Attention to detail is my middle name. As the Administrative Manager, I handle the fine points, making sure every single piece meets the highest of standards. From listing to close and everything in between, I manage all the pieces involved in real estate and take pleasure in ensuring a smooth transaction for every one of our clients. When I’m not dotting every ‘I’ and crossing every ‘t’, I’m hiking with my family along one of the beautiful trails near our Abbotsford home or attending one of my kids’ baseball games. Having gone through the home buying and selling process myself several times, I want to see each of our clients as successful and happy in their investments as I am.

Dave

Dave Jones
Realtor
dave@daveandranj.com (Email)

Ranj says I’m the one everyone wants to have a beer with – I like to think that’s true! Having lived in Abbotsford for over 15 years, I know what makes this a great community for families – my wife and I raised our two kids here. The same love of helping people and serving my community that drew me into a long-standing career in the Canadian Armed Forces eventually inspired the change to real estate. Now it is my pleasure to understand the ins and outs of the property market for the benefit of my clients. Whether matching buyers to the right homes or guiding a seller through a complex negotiation, service and loyalty remain my guiding principles to my business.

Jenn

Jenn Schotts
Realtor
jenn@ranjtakhar.com (Email)

I grew up in Langley in the Brookswood area, and lived there until I married my husband Steve in 2004 and we made Abbotsford our forever home. We have grown our family to include three kids, two dogs, a cat and even a mom-in-law! I can often be found at one my two son's many baseball games, knitting while cheering them on! I have an extensive background in sales, sales management and training, and I have worked in a Marketing Director capacity for local companies such as Cap-It and Lepp Farm Market. I have long considered becoming a licensed realtor and I finally took the leap in 2018. I believe that my endless energy, passion & tenacity make me a good fit with Ranj, Dave & Marina. Nothing matters more to me than giving my clients a memorable and truly excellent customer experience, that will result in long term client relationships.

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