With nine interest rate hikes since March 2022, mortgage borrowers have either already started to feel the increased payment pressures or will at renewal time. So, what if your mortgage payments become too much to manage? How do you avoid risking your home? On today’s podcast, Doug Hoyes and Ted Michalos give practical advice for what to do if you’re struggling with your mortgage payments, including the dos and don’ts, and ways to cut back on interest costs if you can afford it. Tune in for a great show!
Rising Interest Rates and Debt: What Can You Do? https://www.hoyes.com/blog/rising-interest-rates-and-debt-what-can-you-do/
Walking Away From a Mortgage in Canada: https://www.hoyes.com/blog/walking-away-from-a-mortgage-in-canada/
Can’t Pay Your Mortgage? Options to Keep Your House: https://www.hoyes.com/blog/cant-pay-your-mortgage-options-to-keep-your-house/
Bank of Canada Financial System Review: https://www.bankofcanada.ca/2023/05/financial-system-review-2023/#Households
Butler Mortgage Interest Rates: https://www.butlermortgage.ca/rates/