533 – What Happens If You Can’t Pay Your Mortgage – Feat. Scott Terrio

If you’re a homeowner in Canada, you can’t miss this episode! Canadian homeowners are increasingly facing the tough reality of missed payments and rising financial pressures. 

Licensed Insolvency Trustee Scott Terrio joins Debt Free in 30 to unpack the potential warning signs of mortgage trouble, troubleshoot possible solutions, and provides guidance on how to handle worst-case scenarios.

Timestamps:

(1:25) – Canada is at the beginning of a mortgage crisis

(3:50) – Early warning signs of potential mortgage struggles

(8:30) – What to do if you think you might miss a payment

(11:00) – Mortgage deferral programs: How they work

(12:40) – Refinancing or modification of your mortgage

(15:00) – HELOCs (Home Equity Line of Credit)

(17:15) – Selling your house: An extreme or smart option?