Canada Guaranty Mortgage Insurance Benefits

Archive for July, 2017

LENDER UPDATE: Homeowners Affected by Wildfires in British Columbia

LENDER UPDATE
Homeowners Affected by Wildfires in British Columbia
(Download Update)


On behalf of Canada Guaranty, I would like to express our concern for the families and communities impacted by the current wildfires throughout British Columbia. We are committed to working with our partners to offer solutions that help mitigate temporary financial hardship resulting from this unforeseen event.

Through Canada Guaranty’s Homeownership Solutions Program, lenders have a number of solutions available to support homeowners facing temporary challenges in meeting their mortgage commitments. Given the current situation in British Columbia, Canada Guaranty is prepared to offer additional flexibility for the affected homeowners by extending the capitalization solution up to a maximum of six (6) monthly payments, provided that the:

  1. Original insured loan amount is not exceeded;
  2. Request for capitalization is received before December 31, 2017; and
  3. Capitalization is being applied to help mitigate short-term financial difficulty resulting from the current wildfires in British Columbia, and not an unrelated event.

In the event that a homeowner requires additional assistance, exceeds the original loan amount, or the request comes after the program deadline of December 31, 2017, Canada Guaranty will review each request on an individual basis.

Should you have any questions or wish to discuss your client’s unique circumstances, please do not hesitate to contact a member of our Loss Management Team:

CANADA GUARANTY | LOSS MANAGEMENT TEAM
  • Toll Free: 1.866.414.9109 ext. 7001
  • E-mail: lossmanagement@canadaguaranty.ca





Mary Putnam AMP
Vice President, Sales and Marketing
Canada Guaranty Mortgage Insurance Company

Telephone 416.640.8936 
Toll Free 866.414.9109 ext. 8936 
E-mail mary.putnam@canadaguaranty.ca

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