Now that you are a homeowner
You can set up your mortgage payments to be paid weekly, bi-weekly or monthly. You can have the payment automatically deducted from your account – take advantage of this flexibility to coincide with your pay deposit. This will help you easily make your mortgage payments on time. It is recommended that you keep at least three months’ worth of mortgage payments in savings for an emergency situation. Making late payments can result in serious problems and damage your overall credit rating. Trouble making your payments? Discuss the situation with your lender immediately. There may be ways they can help you.
Original Article Source Credits: Canada Mortgage and Housing Corporation , https://www.cmhc-schl.gc.ca/
Article Written By: NA
Original Article Posted on: NA
Link to Original Article: https://www.cmhc-schl.gc.ca/en/professionals/industry-innovation-and-leadership/industry-expertise/resources-for-mortgage-professionals/now-that-youre-homeowner