Covid-19 Resources - Calgary Mortgage Solutions | Eden Simari
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Covid-19 Resources

As we continue to navigate our new reality, we are here to support you with financial updates.

Below are a list of invaluable links to Aid programs.

If you have questions, please reach out!  We are here to assist – Eden Simari


Canadian mortgage insurers, GenworthCanada Guaranty, and Canada Mortgage and Housing Corporate (CMHC) are backing the current crisis and are working with our lenders to develop policies to either skip or defer payments on mortgages, loans, credit cards, and lines of credit for those experiencing a sudden loss of income due to COVID-19.

However, it’s important to know that these are on a case-by-case basis.

What is Case-By-Case?

Many lenders are still formulating their official policies on payment deferrals. However, there are three primary cases lenders are looking at:

  1. Laid off in an industry directly impacted by COVID-19
  2. Laid off in an industry NOT directly impacted by COVID-19 (ie. banks)
  3. Still working by have other factors impacting your ability to make a mortgage payment, such as taking care of someone who is sick or you are sick.

If you fall into one of these areas, please reach out to your lender directly either by phone or their online forms (websites available below). Please know, you may not receive an answer right away. As each case is different, it may take 3-5 business days for a response.

What you need to know:

Phone lines are currently very busy, so expect to wait at least 30 minutes to 1 hour for a representative. Many lenders are encouraging clients to review their online portals and policies. While you wait, we also encourage you to review the Government of Canada website for updated information about financial or business aid.

LENDER CONTACT INFORMATION

ATB Financial: 1-800-332-8383
B2B Bank: 1-800 263 8349 or questions@b2bbank.com
BMO Financial Group: 1-877-895-3278
Bridgewater Bank: 1-866-243-4301 or customer.experience@bridgewaterbank.ca
CIBC:  1-877-454-9030
CMLS Financial: 1-888-995-2657 or service@cmls.ca
CWB Optimum Mortgage: 1-866-441-3775 or customer.service@cwbank.com
Equitable Bank: 1-866-407-0004 or customerservice@eqbank.ca
Connect First Credit Union: 1-403-520-8000 | Contact
Chinook Financial: 1-403-934-3358 | Contact
First Calgary Financial: 1-403-736-4000 | Contact
First National Financial LP: 1-866-557-5509 or accounts@firstnational.ca
Haventree Bank: 1-855-272-0051 or MortgageServicing@haventreebank.com
HomeEquity Bank: 1-866-331-2447 or clientrelations@heb.ca
Home Trust Company: 1-855-270-3630 or homehelps@hometrust.ca
HSBC: 1-888-310-4722
ICICI Bank 1-888-424-2422 or icicibankmortgagecare@lenderservices.ca
Lendwise: 1-800-675-7022, Option 4
Manulife: 1-866-677-4366 or help@mortgageprotectionplan.com
MCAP: 1-800-265-2624 or service@mcap.com
MERIX Financial 1-877-637-7881 or cap@paradigmquest.com
Marathon: 1-855-503-6060 or info@marathonmortgage.ca
National Bank: 1-888-835-6281
RBC: 1-800-769-2511
RFA: (formerly Street Capital) 1-877-416-7873 or customer@rfabank.net
RMG: 1-866-809-5800 or mortgagesupport@rmgmortgages.ca
Scotiabank 1-877-303-8879
Servus Credit Union: 1-877-378-8728
TD: 1-888-751-9000

UPDATED 2019 TAX DEADLINES

Last updated March 18, 2020. Information provided from Canadian Department of Finance.

In order to provide greater flexibility to Canadians who may be experiencing hardships during the COVID-19 outbreak, the Canada Revenue Agency will defer the filing due date for the 2019 tax returns of individuals, including certain trusts.

  • For individuals (other than trusts), the return filing due date will be deferred until June 1, 2020.  However, the Agency encourages individuals who expect to receive benefits under the GSTC or the Canada Child Benefit not to delay the filing of their return to ensure their entitlements for the 2020-21 benefit year are properly determined.
  • For trusts having a taxation year ending on December 31, 2019, the return filing due date will be deferred until May 1, 2020.

More Information

BOOSTING GST CREDIT AND CANADA CHILD BENEFIT PAYMENTS

Last updated March 18, 2020. Information provided from Canadian Department of Finance.

Government is proposing to provide a one-time special payment by early May 2020 through the Goods and Services Tax credit (GSTC). This will double the maximum annual GSTC payment amounts for the 2019-20 benefit year. The average boost to income for those benefitting from this measure will be close to $400 for single individuals and close to $600 for couples. This measure will inject $5.5 billion into the economy.

For over 3.5 million families with children, who may also require additional support, the Government is proposing to increase the maximum annual Canada Child Benefit (CCB) payment amounts, only for the 2019-20 benefit year, by $300 per child. The overall increase for families receiving CCB will be approximately $550 on average; these families will receive an extra $300 per child as part of their May payment. In total, this measure will deliver almost $2 billion in extra support.

Together, the proposed enhancements of the GSTC and CCB will give a single parent with two children and low to modest income nearly $1,500 in additional short-term support.

NATIONAL STUDENTS LOANS SERVICES UPDATE:

Last updated March 18, 2020. Information provided from National Students Loan Services.

To support student loan borrowers during the COVID-19 pandemic, the Government of Canada has announced its plan to pause the repayment of Canada Student Loans until September 30th, 2020, with no accrual of interest. Pending parliamentary approval, these measures will become effective March 30th, 2020. This will include pre-authorized debits. We will provide more details shortly.

More information

Canada’s COVID Financial Assistance:

• Canada’s COVID-19 Economic Response Plan: Support for Canadians and Businesses. Click here.

• Employment and Corporate Notice of Benefits and services. Click here.

• Alberta Support for Employers and Employees. Click here.

• Canada Emergency Response Benefit (CERB). Click here.

Business Owners:

• BDC How to cope with impacts of Covid-19. Click here.

• BDC Additional Measures to Provide Relief for Canadian Entrepreneurs. Click here.

• How EDC is helping exporters during COVID-19. Click here.

• CFIB Covid-19 Small Business Help Centre. Click here.

Canadians Abroad:

• Government of Canada: Financial help for Canadians outside Canada. Click here.