Mortgage Renewal During Consumer Proposal

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drowningindebt

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Mortgage Renewal During Consumer Proposal
« on: June 27, 2014, 10:28:59 PM »
I am so relieved, I just need to share my story. My husband and I are a couple of months into our C.P. Our mortgage is up for renewal in September and I have been very stressed about what kind of rate we may have to pay. Our mortgage was with First Line Mortgages, which was recently taken over by CIBC. RBC (who we didnt owe any money to and was not in the C.P.) assured us they would take over the mortgage, but that it would be at a high interest rate. Thankfully though, CIBC contacted us a few days ago, practically begging us to renew with them at .5% below prime for 5 years. Of course we jumped at it, and our mortgage payment will now be almost $200 less per month than it was before. Such a huge relief!!!!  Another stress has been lifted!   :-)

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Nevergiveup

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Re: Mortgage Renewal During Consumer Proposal
« Reply #1 on: July 06, 2014, 09:07:38 PM »
Congrats  ! That s great , I am very happy for you.

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Bank-snoopy

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Re: Mortgage Renewal During Consumer Proposal
« Reply #2 on: May 28, 2015, 04:38:41 PM »
thats awesome

i'm trying to get pre-approved for a mortgage now that my CP is over and I am having a very hard time

 

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