Big Banks to help customers delay mortgage payments

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Shady Salah – Media in Toronto
Canada’s six biggest banks are offering to ease up on customers if they have been hit hard by the new coronavirus, including by allowing some borrowers to delay mortgage payments for six months.
Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada and Toronto-Dominion Bank announced offers of financial assistance in press releases sent out early Wednesday.
“This support will include up to a six-month payment deferral for mortgages, and the opportunity for relief on other credit products,” the banks say.
The move comes as part of set of measures announced by the federal and provincial governments as well as other institutions to help Canadians facing difficulties during the global COVID-19 outbreak.

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