Deferring My Mortgage: Will It Hurt My Credit?

Will Deferring My Mortgage Hurt My Credit?

Many of our clients have communicated with our Mortgage Architects office in the past week to share their thoughts regarding deferring my mortgage. In general, they were scared and wanted advice as to whether they should defer their mortgage payment. The answer is yes. This is a nice gift from our government. Preserve cash and keep your family safe. By saving the payments you will have excellent cash flow.

The other major question is will it hurt my credit if I defer my payments. According to my latest readings, the answer is no. The clients are not missing payments, they are delaying them. The banks will adjust these on your credit bureau. It is quite similar to student loans. The student loans are deferred as well until the student starts working. Therefore, please take advantage of the deferred mortgage payments. It is good for your cash flow and credit.

Robert Floris is a Mortgage Broker. His office is located at 651 Fennell Avenue East in Hamilton, Ontario. If you would like to speak with Robert, he can be reached at 905-574-9200 #215. Alternatively, you can contact Robert here.

If you would like to apply for a mortgage online, please follow this link.

If you would like to see our Google reviews or leave one yourself, you can do so here.

Read More About This Here.