CMHC Support for Citizens Affected by SARS
Canada Mortgage and Housing Corporation has made a number of tools available to lenders to assist homeowners who are experiencing financial difficulty as a results of the SARS outbreak.
Homeowners that have existing CMHC-insured mortgages can apply to their mortgage lender for special payment arrangements or temporary deferral of payments. Lenders may also be able to re-amortize a borrower's payments over a longer period of time.
Homeowners that do not currently have a CMHC-insured mortgage may apply through an Approved Lender to refinance their existing mortgage with an insured loan to cover financial difficulties.
Who to call
Individuals experiencing financial difficulty as a result of the SARS outbreak are encouraged to contact their mortgage lender, who will work with them to identify an appropriate remedy to their financial problems.