Information for Canadian hosts:
The Big Six banks — Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Bank of Nova Scotia and TD Bank Group —have banded together to provide support to personal banking customers and small businesses coping with pay disruptions, illness and layoffs.
It is a case-by-case basis. I’d like to post this article because it goes into what actually happens once people began applying. There is also a good list of questions to ask for your own application be it with these particular six banks or somewhere else:
I sent an email to my own mortgage broker, Dominion Lending. The email is firstname.lastname@example.org. You can’t really call, but the number is: 1-866-928-6810 if you can get through to their “COVID-19 Assistance Team”. Make sure your mortgage number, address, full name and a description of your request is in your email. We’ll see what exactly this entails. I know that my fiance’s mom tried to defer payments through her broker in California, and they said while they can provide up to 4 deferred payments up to July as “relief”, when July comes around, you’d have to pay it in full - one lump sum. I don’t quite understand how that is any type of relief, but that’s their “plan”. I don’t know the name of the broker.