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payment deferral

What about the mortgage payment deferral offer from the banks?

on Fri, 03/27/2020 - 12:57

So I’ve got a lot of people asking me regarding the mortgage relief offer that the big six banks had offered last week. Funny enough, none of these people are my clients, anyway I always answer questions although I don’t get paid for it. So here we go:
As a financial advisor, I would highly recommend against taking this mortgage relief offer because it is, at the end, going to hurt you more.

If you can afford it, pay your mortgage.

According to the report CBC had done, A RBC empolyee stated that interest accrued from each deferred payment was being added back into the principal balance of