Home At Risk

When we bought our first home, we were quite worried about buying a big home, we wanted a starter home because it is safe and we don’t want to pay a huge mortgage and worry about our future finances.  Like any honest human being, we wanted to make sure we can pay our bills and not be a parasite to society.

But as Canadian citizens or Canadian residents, I just want to share with you that even if your income is at risk.. you home and family doesn’t have to be.  No one wants to be in a bad state of financial affair but when life delivers an unexpected blow or throws you a curve ball, it can get tough.  Most times, it seems that everything is falling apart.

But this shouldn’t mean that your home and everything you’ve worked for so hard .. is in jeopardy.  As Canadian homeowners better yet if you are a first time home buyer.. you automatically carry a mortgage default insurance on your homes, in fact over 45% of you do.  If you are on this program, you can tab into the assistance programs to help you modify your loans, if you encounter financial hardship.  Take advantage of Homeowner Assistance Program at no extra cost.  This program enables you to work with your lender to look for alternative arrangements, so that you can stay secure in your home when the going gets tough.   So yes, home owners especially first time owners.. you are protected.. don’t panic.. and make the family upset.. without looking into other options.