Mortgage Clarity during these financially stressful times

General Angela Calla 14 Apr

Whether you’ve been directly affected by the COVID-19 pandemic or are looking to take preventative measures to ensure your financial stability, here are some tips to help you understand Mortgage Deferrals.

What is a Mortgage Deferral?

A mortgage deferral, if approved, allows you to delay the payments for the time granted, and is done on a case by case basis. These vary greatly and is based solely on the decision of the lender.  We have seen approvals between one and six months, with extended delay times for approval.

Once the deferral is over your payment will increase to be higher and on top of your regular payments. The amount will be added to each payment remaining on the term. The longer the deferral the higher your payments will be after the deferral period.

Do you qualify?

As of this moment, only those who do not have the ability to work or make payments as a result of COVID-19 will qualify. If you are still employed at this time you will not qualify.  Everyone’s situation is unique. We recommend you contact your mortgage broker or lender directly.

What about rental properties?

Some lenders will now allow deferrals on up to 4 properties regardless of occupancy. To support renters who are facing a loss of income during the pandemic, a new supplement (TRS) will offer up to $500 a month to help renters pay part of their rent and help ensure landlords continue to receive at least some rental income right now. While the rental supplement is designed to help renters pay their rent during this emergency, renters will be responsible for any outstanding rent owing after the state of emergency has ended.

Reverse Mortgages

If you or someone you know has lost money in the stock market and is over the age of 55 a reverse mortgage can allow you to access your equity in a lump sum, monthly payment or combination of the two. A reverse mortgage is not viewed as income. You will still receive any entitled pensions and not have to take further losses in the stock market if that’s how you were drawing your living expenses. They will not have to traditionally income qualify, they will make no monthly payments and have access to there equity, this is a way better alternative than utilizing high-interest rate credit cards to get by.

 

Angela Calla is a 16 year award-winning woman of influence mortgage expert. Alongside her team, passionately assisting mortgage holders get the best mortgage, and educating them on The Mortgage Show on CKNW for over a decade and through her best-selling book The Mortgage Code available on Amazon. To purchase the book click here: The Mortgage Code. Proceeds from all sales will be donated to Access Youth Outreach Services. Angela can be reached at callateam@dominionlending.ca or 604-802-3983.

Angela Calla Awarded a Top 75 in Canadian Mortgage Professional Magazine

General Angela Calla 9 Apr

It’s an honor to again be part of the Top 75 Mortgage Brokers in Canada. We’ve been blessed with the opportunity to help so many people in many unique situations over the years.

Angela Calla is a 16 year award-winning woman of influence mortgage expert. Alongside her team, passionately assisting mortgage holders get the best mortgage, and educating them on The Mortgage Show on CKNW for over a decade and through her best-selling book The Mortgage Code available on Amazon. To purchase the book click here: The Mortgage Code. Proceeds from all sales will be donated to Access Youth Outreach Services. Angela can be reached at callateam@dominionlending.ca or 604-802-3983.

Mortgage Clarity with the Tri-Cities Chamber of Commerce

General Angela Calla 9 Apr

Angela Calla delivers useful information and mortgage clarity during these difficult times at the Tri-Cities Chamber of Commerce webinar. To book a personalized presentation that would benefit your network email us at callacom@dominionlending.ca

WATCH HERE

 

Links from today’s presentation:

Media

Global News Interview

The Mortgage Show

Facebook

The Angela Calla Team

Angela Calla Blog

List of Lenders

Credit Card Deferrals

Budgeting Tools

Reverse Mortgage

Mortgage Toolbox App Download

Amazon

The Mortgage Code

Other Helpful Links

BC Hydro

Fortis BC

ICBC

 

Angela Calla is a 16 year award-winning woman of influence mortgage expert. Alongside her team, passionately assisting mortgage holders get the best mortgage, and educating them on The Mortgage Show on CKNW for over a decade and through her best-selling book The Mortgage Code available on Amazon. To purchase the book click here: The Mortgage Code. Proceeds from all sales will be donated to Access Youth Outreach Services. Angela can be reached at callateam@dominionlending.ca or 604-802-3983.

BC Temporary Rental Supplement (TRS) is NOW OPEN!

General Angela Calla 9 Apr

ATTENTION TENANTS AND LANDLORDS!!

BC Temporary Rental Supplement is NOW OPEN!

Please note you will need to prove income loss and tenancy, this is directly from the application process:

Proof of Income Loss

Submit one of the following for every family member aged 19 years or over whose employment income has decreased as a result of COVID-19.

  • Record of Employment
  • Copy of application for Employment Insurance or screenshot of current EI claim from My Service Canada online account
  • Copy of application for Canada Emergency Response Benefit or screenshot of current CERB claim from My Service Canada online account
  • Letter from your employer regarding reduced hours and reason

Proof of Tenancy and Rent

Submit one or more of the following to confirm tenancy and current monthly rent.

  • Tenancy Agreement / Notice of Rent Increase
  • Recent Rent receipt (within past 3 months)
  • Bank statement showing recent rent payment to your landlord (within past 3 months)
  • Letter from Landlord confirming tenancy and monthly rent

 

APPLICATION FORM HERE

 

Angela Calla is a 16-year award-winning woman of influence mortgage expert. Alongside her team, passionately assisting mortgage holders to get the best mortgage, and educating them on The Mortgage Show on CKNW for over a decade and through her best-selling book The Mortgage Code available on Amazon. To purchase the book click here: The Mortgage Code. Proceeds from all sales will be donated to Access Youth Outreach Services. Angela can be reached at callateam@dominionlending.ca or 604-802-3983.

Canadian banks cutting credit card interest for some clients due to COVID-19

General Angela Calla 8 Apr

Some major Canadian banks are cutting credit card interest for clients that are facing financial hardship because of COVID-19.

Vancity, a local credit union, announced on April 8 that it would defer minimum payments and drop interest rates entirely – to 0% – for their cardholders who are facing financial difficulty because of the pandemic.

In a release on Friday, RBC said it will be by cutting interest by 50$ for small business and personal clients who are already deferring minimum payments on their credit cards.

Read More

 

Angela Calla is a 16-year award-winning woman of influence mortgage expert. Alongside her team, passionately assisting mortgage holders to get the best mortgage, and educating them on The Mortgage Show on CKNW for over a decade and through her best-selling book The Mortgage Code available on Amazon. To purchase the book click here: The Mortgage Code. Proceeds from all sales will be donated to Access Youth Outreach Services. Angela can be reached at callateam@dominionlending.ca or 604-802-3983.

COVID-19 and The Workplace: What employers and employees need to know.

General Angela Calla 8 Apr

I’d like to share with you some important information on how COVID-19 has, and will continue to, affect the workplace. This is a great source for both employers and employees.

Presented by: Catherine Coakley & Grant Morrison, BTM Lawyers on April 3rd, 2020

WATCH THE RECORDING 

What you’ll learn in the presentation:

  • Terminations and Layoffs
  • Aim I entitled to temporarily layoff my employees?
  • Are my employees entitled to severance?
  • How much severance or notice are my employees entitled to?
  • Programs and Benefits Available to Employees and Employers Impacted by COVID-19
  • Canada Temporary Wage Subsidy
  • Canada Emergency Response Benefit
  • EI Sickness & Regular Benefits
  • BC Emergency Benefit
  • Tax Relief for Businesses
  • Business Credit Availability Program & Canada Emergency Business Account
  • Maintaining a Safe Work Environment
  • Review amendments to Employment Standards Act that provide unpaid job security for workers unable to work for reasons related to COVID-19
  • Are employers entitled to prevent an employee from going to work due to the risk of exposure due to COVID-19?
  • Are employees entitled to refuse to attend work due to the risk of exposure to COVID-19?
  • Attendees will takeaway:
  • Be given the tools necessary to take advantage of available benefits and programs to lessen the financial burden of the COVID-19 pandemic
  • Understand their rights and obligations in dealing with the fallout of the COVID-19 pandemic
  • Provided with the tools to take advantage of newly announced programs
  • Understand your right and obligations as employers and employees in facing the health and economic challenges brought by the COVID-19 pandemic

 

More about Grant & Catherine:

Grant Morrison and Catherine Coakley from BTM Lawyers LLP. Grant and Catherine are experienced employment lawyers that have years of experience representing both employers and employees in a wide range of workplace issues including layoffs, wrongful dismissals, severance negotiations, human rights and WorkSafe BC issues.  BTM Lawyers LLP is a community based full-service law firm that has served the Tri-Cities for over 40 years. Learn more and contact them at 604-937-1166

 

Angela Calla is a 16 year award-winning woman of influence mortgage expert. Alongside her team, passionately assisting mortgage holders get the best mortgage, and educating them on The Mortgage Show on CKNW for over a decade and through her best-selling book The Mortgage Code available on Amazon. To purchase the book click here: The Mortgage Code. Proceeds from all sales will be donated to Access Youth Outreach Services. Angela can be reached at callateam@dominionlending.ca or 604-802-3983.

Budgeting during our state of emergency

General Angela Calla 7 Apr

During these times I wanted to offer you a worksheet (in a Printable PDF or Editable Spreadsheet) while people are going through the budgeting process and evaluating their financials as a tool to help empower you.

Before you look at this sheet here are some basics and links I wanted to bring to your attention to help you preserve cash.

While you go through this please note here are some helpful links:

Applying for EI

Numbers for Lenders for mortgage payment deferral

Other options to potentially delay payments

Information for Landlords 

Property Taxes

Hydro

Car Loans Insurance Premiums (Personal, Car, Life)

There are currently no deferral systems in place for strata payments but you can learn about the best way to manage your meetings.

How to manage Strata meetings during COVID-19

You may also want to consider going through your credit card and bank statements for subscriptions, expenses and charity donations you believe are no longer necessary. This could potentially free up a sizeable amount of income.

Feel free to share this with anyone you believe could benefit! We’re here to help.

Do you have outside debt? Want to take a mortgage for a test drive? Email us at callateam@dominionlending.ca

Angela Calla is a 16-year award-winning woman of influence mortgage expert. Alongside her team, passionately assisting mortgage holders to get the best mortgage, and educating them on The Mortgage Show on CKNW for over a decade and through her best-selling book The Mortgage Code available on Amazon. To purchase the book click here: The Mortgage Code. Proceeds from all sales will be donated to Access Youth Outreach Services. Angela can be reached at callateam@dominionlending.ca or 604-802-3983.

Information for renters and landlords during COVID-19

Latest News Angela Calla 7 Apr

The B.C. government reassures renters they will not be evicted if they cannot pay rent during the state of emergency related to novel coronavirus (COVID-19). As announced on March 25, 2020, the Province has halted evictions during the COVID-19 crisis.

To support renters who are facing a loss of income during the pandemic, a new Temporary Rental Supplement (TRS) will also offer up to $500 a month to help renters pay part of their rent and help ensure landlords continue to receive at least some rental income right now. More information about this program will be available by mid-April 2020. While the program will launch later this month, qualified tenants will be able to receive supplemental rent support for April, May and June 2020. This supplement is in addition to funding available from the federal government and the $1,000 B.C. Emergency Benefit for Workers.

There are existing programs for renters, such as Shelter Aid for Elderly Renters (SAFER) and the Rental Assistance Program (RAP).

More information on these programs is available online.

In response to the challenges posed by the current crisis, there are also programs available from the federal government online.

While the rental supplement is designed to help renters pay their rent during this emergency, renters will be responsible for any outstanding rent owing after the state of emergency has ended.

Renters who are not experiencing financial hardship should still pay their rent. Tenants who are able to make even a partial rent payment are encouraged to do so.

The people providing rental housing rely on rent payments to pay for their utilities, mortgages and other bills related to the rental property. If renters are unable to pay the full rent or need more time, they are encouraged to inform their landlord and to apply for the supplement and other support programs.

People interested in the new TRS program should monitor the BC Housing website for details on eligibility, the application process and other steps. This information will be posted on this website in the coming weeks.

To protect both renters and landlords during this time, the Province has frozen rent increases for existing tenants, allowed landlords to restrict the use of common areas by tenants or guests to protect against the transmission of COVID-19, and given renters the right to control who enters their units, except in emergency circumstances. These measures and others are outlined in the March 25, 2020, announcement.

Renters and landlords are encouraged to do their best to come to mutual solutions during the pandemic. People with specific questions should contact the Residential Tenancy Branch.

For translations and further info please visit the BC Government Website.

 

Landlord BC is comprised of passionate professionals and industry experts, BC’s top resource for owners and managers of rental housing, a member-driven professional association leading the rental housing industry in BC, over 3,300 members strong. Their members include property owners, property managers with purpose-built rentals, secondary suites, and investment properties. Passionate about making members jobs easier, legislation clearer, and the rental housing market better for everyone.

 

Angela Calla is a 16-year award-winning woman of influence mortgage expert. Alongside her team, passionately assisting mortgage holders to get the best mortgage, and educating them on The Mortgage Show on CKNW for over a decade and through her best-selling book The Mortgage Code available on Amazon. To purchase the book click here: The Mortgage Code. Proceeds from all sales will be donated to Access Youth Outreach Services. Angela can be reached at callateam@dominionlending.ca or 604-802-3983.

Register for our Webinar on Mortgage Clarity

General Angela Calla 6 Apr

Looking for some Mortgage Clarity during these challenging times? Join us for Angela Calla’s Webinar with the Tri-Cities Chamber of Commerce.

Register here

 

Angela Calla is a 16 year award-winning woman of influence mortgage expert. Alongside her team, passionately assisting mortgage holders get the best mortgage, and educating them on The Mortgage Show on CKNW for over a decade and through her best-selling book The Mortgage Code available on Amazon. To purchase the book click here: The Mortgage Code. Proceeds from all sales will be donated to Access Youth Outreach Services. Angela can be reached at callateam@dominionlending.ca or 604-802-3983.

Summary of Canada’s Emergency Benefits

General Angela Calla 6 Apr

Here is a summary of Canada’s emergency benefits.  Today is the day you are able to begin applying.   Although they are asking us to stagger the applications based on your month of birth.

𝗥𝗘𝗦𝗢𝗨𝗥𝗖𝗘𝗦 𝗢𝗙 𝗖𝗢𝗩𝗜𝗗-𝟭𝟵

𝗛𝗼𝘄 𝗧𝗼 𝗔𝗽𝗽𝗹𝘆 𝗙𝗼𝗿 𝗘𝗜 & 𝗖𝗢𝗩𝗜𝗗-𝟭𝟵 𝗥𝗲𝗹𝗮𝘁𝗲𝗱 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀

EMPLOYMENT INSURANCE

EMERGENCY SUPPORT BENEFIT

EMERGENCY INSURANCE SICKNESS BENEFIT

EMERGENCY CARE BENEFIT

NEED MORTGAGE HELP?

CHILD CARE BENEFITS

𝗦𝗨𝗣𝗣𝗢𝗥𝗧𝗜𝗡𝗚 𝗥𝗘𝗡𝗧𝗘𝗥𝗦, 𝗟𝗔𝗡𝗗𝗟𝗢𝗥𝗗𝗦 𝗗𝗨𝗥𝗜𝗡𝗚 𝗖𝗢𝗩𝗜𝗗-𝟭𝟵

TAX DEADLINE

𝗗𝗲𝗱𝗶𝗰𝗮𝘁𝗲𝗱 𝗘𝗜 𝗣𝗵𝗼𝗻𝗲 𝗟𝗶𝗻𝗲: 1-833-381-2725

𝗖𝗮𝗻𝗮𝗱𝗮’𝘀 𝗖𝗢𝗩𝗜𝗗-𝟭𝟵 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗥𝗲𝘀𝗽𝗼𝗻𝘀𝗲 𝗣𝗹𝗮𝗻

𝗖𝗢𝗩𝗜𝗗-𝟭𝟵 𝗕𝗖 𝗦𝘂𝗽𝗽𝗼𝗿𝘁 𝗔𝗽𝗽 𝗮𝗻𝗱 𝗦𝗲𝗹𝗳-𝗔𝘀𝘀𝗲𝘀𝘀𝗺𝗲𝗻𝘁 𝗧𝗼𝗼𝗹

Supporting Families During COVID-19: Child Mind Institute

COVID-19 Action Plan: B.C.’s first steps to support people, businesses

Protecting jobs during difficult times

COVID-19 Provincial Support and Information

ICBC allowing drivers to put off payments for 90 days, renew licences by phone

Tips for managing anxiety during the COVID-19 pandemic

𝗧𝗥𝗔𝗩𝗘𝗟 𝗔𝗗𝗩𝗜𝗦𝗢𝗥𝗜𝗘𝗦 – 𝗖𝗔𝗡𝗔𝗗𝗔

𝗧𝗥𝗔𝗩𝗘𝗟, 𝗩𝗜𝗦𝗔 𝗔𝗗𝗩𝗜𝗦𝗢𝗥𝗜𝗘𝗦 𝗔𝗡𝗗 𝗨𝗣𝗗𝗔𝗧𝗘𝗦 – 𝗜𝗡𝗗𝗜𝗔

 

Non-medical Questions

📞 Call 1-888-COVID19

📱 Text 604-630-0300

 

Medical Questions only

🏥 Call 8-1-1

 

Angela Calla is a 16 year award-winning woman of influence mortgage expert. Alongside her team, passionately assisting mortgage holders get the best mortgage, and educating them on The Mortgage Show on CKNW for over a decade and through her best-selling book The Mortgage Code available on Amazon. To purchase the book click here: The Mortgage Code. Proceeds from all sales will be donated to Access Youth Outreach Services. Angela can be reached at callateam@dominionlending.ca or 604-802-3983.