Comments on: Should you Defer Your Mortgage, Rent and Credit Card Payments? https://www.moneywehave.com/should-you-defer-your-mortgage-rent-and-credit-card-payments/ Personal Finance and Budget Travel for Canadians Fri, 25 Jun 2021 00:28:09 +0000 hourly 1 https://wordpress.org/?v=7.0 By: Drake Frost https://www.moneywehave.com/should-you-defer-your-mortgage-rent-and-credit-card-payments/#comment-209358 Thu, 07 May 2020 16:06:25 +0000 https://www.moneywehave.com/?p=761511#comment-209358 Hi, I think that everything related to loans is very serious. Most banks issue mortgage loans with annuity payment, in which case the amount of the monthly payment is the same throughout the loan repayment period. At the same time, the first few years the amount paid by the borrower mainly goes to pay interest on the loan, and the debt to the bank remains almost unchanged. Now banks again began to offer loans with differentiated payments. With a differentiated payment, the client immediately begins to pay both the main debt and the interest accrued on it. So be careful.

]]> By: Drake Frost https://www.moneywehave.com/should-you-defer-your-mortgage-rent-and-credit-card-payments/#comment-209383 Thu, 07 May 2020 16:06:25 +0000 https://www.moneywehave.com/?p=761511#comment-209383 Hi, I think that everything related to loans is very serious. Most banks issue mortgage loans with annuity payment, in which case the amount of the monthly payment is the same throughout the loan repayment period. At the same time, the first few years the amount paid by the borrower mainly goes to pay interest on the loan, and the debt to the bank remains almost unchanged. Now banks again began to offer loans with differentiated payments. With a differentiated payment, the client immediately begins to pay both the main debt and the interest accrued on it. So be careful.

]]> By: Barry Choi https://www.moneywehave.com/should-you-defer-your-mortgage-rent-and-credit-card-payments/#comment-209355 Wed, 06 May 2020 01:04:07 +0000 https://www.moneywehave.com/?p=761511#comment-209355 In reply to Anthony.

Hey Anthony,

Interesting, I was under the impression that lenders were not giving any relief for rental properties. Thanks for the info!

]]> By: Barry Choi https://www.moneywehave.com/should-you-defer-your-mortgage-rent-and-credit-card-payments/#comment-209380 Wed, 06 May 2020 01:04:07 +0000 https://www.moneywehave.com/?p=761511#comment-209380 In reply to Anthony.

Hey Anthony,

Interesting, I was under the impression that lenders were not giving any relief for rental properties. Thanks for the info!

]]> By: Anthony https://www.moneywehave.com/should-you-defer-your-mortgage-rent-and-credit-card-payments/#comment-209351 Tue, 05 May 2020 21:15:24 +0000 https://www.moneywehave.com/?p=761511#comment-209351 Hi Barry, thanks for this great information. Some lenders are allowing mortgage deferrals on rental properties. Each are different and have their own rules.

]]> By: Anthony https://www.moneywehave.com/should-you-defer-your-mortgage-rent-and-credit-card-payments/#comment-209375 Tue, 05 May 2020 21:15:24 +0000 https://www.moneywehave.com/?p=761511#comment-209375 Hi Barry, thanks for this great information. Some lenders are allowing mortgage deferrals on rental properties. Each are different and have their own rules.

]]> By: Barry Choi https://www.moneywehave.com/should-you-defer-your-mortgage-rent-and-credit-card-payments/#comment-209041 Tue, 07 Apr 2020 21:09:35 +0000 https://www.moneywehave.com/?p=761511#comment-209041 In reply to Samantha.

Samantha,

Oh agree, but I’m also hoping this is an eye opener for many people. Survive until another day and hopefully take care of things then.

]]> By: Samantha https://www.moneywehave.com/should-you-defer-your-mortgage-rent-and-credit-card-payments/#comment-209040 Tue, 07 Apr 2020 20:16:30 +0000 https://www.moneywehave.com/?p=761511#comment-209040 If one has the ability to pay their debt (mortgage, loans, etc.) they are better off not deferring anything. I think the negative impact of this pandemic will be felt for at least 1-2 years going forward and if you need to defer payments now, then you probably are in real trouble for the foreseeable future.

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