Was at a private function on Wednesday night hosted by Macquarie Financial and part of the presentation touched on Genworth Financials “Homeowner assistance” program. I knew about this program but admittedly had forgot about it’s application.
However in these times I wondered aloud that likely it is more relevant now. In fact it is highlighted on Genworth’s home page (see link above), which tells you everything you need to know.
The key we were told is going to your lender BEFORE you get in arrears, you will be negotiating from a stronger position. If however, you are in arrears does not mean you can not still approach your lender to discuss options. If you have Genworth financial Insurance, then make sure you tell the lender that, and better yet just go directly to Genworth.
If you have CMHC insurance then you will have to cross your fingers as they don’t have a specific program that I am aware of, but I am told they are working on one given the times we are in.
Thanks Genworth.
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