Mortgage Debt Help in Canada
Our experienced team understands the challenges of managing mortgage debt – we’re dedicated to finding personalized solutions that put your financial well-being first. No matter how intricate your mortgage situation, we’ll work side-by-side with you to lift the burden of debt and build a brighter financial future, one step at a time.
Safe, secure & confidential
Finding your way through mortgage debt
We know that juggling mortgage payments can feel like a heavy weight on your shoulders, affecting both your finances and your peace of mind. It’s normal to worry about missed payments, harassing calls, or even legal action. But you don’t have to face this alone.
For years, we’ve helped people in similar situations find customized solutions to their mortgage burdens. We’re experienced in crafting compassionate support plans that fit your unique situation, putting your well-being at the forefront.
Remember, your financial freedom and emotional security matter to us. Don’t let mortgage debt control your life. Take the first step toward a brighter future, free from debt. Reach out to our friendly team today, and let’s work together to get you back on track.
Get mortgage debt help - it’s a simple process
Every mortgage situation is unique, so we’ll get to know yours inside and out – no judgment, just understanding. Share your concerns, your income, and the details of your debt, including who you owe and how much. Don’t worry – our chats are always kept strictly confidential.
Next, we’ll map out your options. Together, we’ll explore every path to debt relief, focusing on choices you feel comfortable with, at your own pace. Your well-being comes first, so we’ll never pressure you into anything.
Ready to take action? We’ll launch your personalized plan! Your financial freedom is our north star, and we’ll be your rock-solid support team every step of the way.
How We Can Assist
Your Potential Debts:
Your monthly repayments over a 60-month period would be
Before Help
$918
After Help
$110
Monthly payments are determined based on individual financial factors
How Much Could I Save?The six warning signs of mortgage debt
If you’re worried that you or a loved one is struggling with mortgage bills and repayment, there are a few key things you can look out for:
Sign 1. Extra lines of credit
Relying on credit cards, loans, or overdrafts to cover regular expenses can indicate deeper financial concerns.
Sign 2. Avoidance
Avoiding conversations about mortgages or finances? This common coping mechanism might mask underlying struggles.
Sign 3. Missing payments
As the stress of mortgage debt grows over time, it’s easy to prioritize other payments, miss payments or even avoid them to help you pay other bills.
Sign 4. Mental health
Struggling with anxiety, stress, or feeling overwhelmed? Mortgage debt can take a toll on your mental well-being.
Sign 5. A change in relationships
Shame and stress can strain relationships. Don’t let debt push loved ones away – reach out for support instead.
Sign 6. A domino effect
A sudden income change, illness, or other event can trigger a cascade of debt issues. Don’t wait for them to snowball.
Mortgage Debt Relief - Your Options
Why Harris & Partners
Our Licensed Insolvency Trustees provide a customized service that could remove up to 80% of your debt and stress, so you can breathe easier.
Our multilingual team provides support in many languages, from Farsi and Portuguese to Italian and Tamil, leaving out complicated jargon, so you understand everything, every step of the way.
Want to speak to someone in person? Our team is on hand to help at a Harris & Partners office near you.
Our Licensed Insolvency Trustees are here to help you tackle mortgage debt
Our Licensed Insolvency Trustees (LITs) aren’t just debt professionals, they’re your allies in reclaiming financial peace. Forget navigating complex mortgage solutions alone – our LITs will partner with you, crafting personalized plans and providing unwavering support every step of the way.
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Jay T. HarrisFCPA, CIRP, LITLicensed Insolvency Trustee -
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Kyle HarrisLL.B., CIRP, LITLicensed Insolvency Trustee -
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Adam FisherCPA, CIRP, LITLicensed Insolvency Trustee -
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Joshua HarrisBCOMM., MIB, CIRP, LITLicensed Insolvency Trustee -
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David AdamsLicensed Insolvency Trustee -
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Doug LoiselleLicensed Insolvency Trustee -
![Rob McLernon]( "zz")
Robert McLernonBComm, CIRP, LITLicensed Insolvency Trustee -
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Shelley KoehliLicensed Insolvency Trustee -
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Jill StruebyLicensed Insolvency Trustee
Mortgage Debt FAQs
How will mortgage debt affect my credit?
While having a mortgage typically shows responsible borrowing and improves your credit score in the long term, missed payments can significantly damage it. Each late payment can stay on your report for up to 7 years, impacting your ability to secure future loans and lines of credit.
Where can I get help with my mortgage payments?
In Canada, several resources can help with mortgage payments:
- Your mortgage lender: Contact your lender directly to discuss hardship options like payment deferrals or loan modifications.
- Government programs: Canada Mortgage and Housing Corporation (CMHC) offers programs like the Homeowner Help Program for at-risk homeowners.
- Non-profit organizations: Credit counseling agencies like Credit Counseling Society can provide free debt advice and negotiate with your lender.
Alternatively, reach out to our team of Licenced Insolvency Trustees. We will take the time to fully understand your financial situation, crafting a custom plan to get you on your way to a debt-free future.
Where can I get debt advice if I’m struggling with my monthly mortgage payment?
If you’re struggling with your monthly mortgage repayments, we are here to help. Our team will work with you to fully understand your mortgage, finding a debt solution that puts you first. Reach out for a free consultation today.
How do homeowners lose control of their monthly payments?
Several factors can cause homeowners to lose control of their monthly payments, including:
- Job loss or income reduction: Unexpected changes in income can make it difficult to afford mortgage payments.
- Rising interest rates: Increasing interest rates can significantly raise monthly payments, leading to difficulty managing them.
- Unexpected expenses: Major repairs, medical bills, or other unforeseen expenses can strain budgets and impact mortgage payments.
- Overextension: Borrowing too much for a mortgage or taking on additional debt can make it challenging to manage overall finances.
How do mortgage debts affect your life?
Mortgage debt can affect your life in various ways, including:
- Stress and anxiety: Financial pressures can lead to stress, anxiety, and impact your mental well-being.
- Relationship strain: Debt-related stress can impact relationships with family and friends.
- Reduced quality of life: Difficulty meeting other financial obligations or affording desired activities can affect your overall quality of life.
- Future borrowing: A poor credit score due to missed payments can make it difficult to borrow for future needs like buying a car or renovating your home.
What happens if I can't pay my mortgage in Canada?
If you can’t pay your mortgage in Canada, your lender will contact you to discuss the situation. Ignoring the issue can lead to serious consequences, including foreclosure, which involves the property being repossessed and sold to cover the outstanding debt. Want to make a proactive plan? Reach out to our Licenced Insolvency Trustees today.
Is a mortgage considered debt in Canada?
Yes, a mortgage is considered debt in Canada. It’s a secured loan used to purchase a property, with the property acting as collateral. While managing a mortgage responsibly can boost your credit score, neglecting payments can have the opposite effect. If you need help refinancing, we can refer you to someone you can trust to provide the help you deserve.
Take your first step to financial freedom
Mortgage debt can feel overwhelming, but it doesn’t have to define your future. Taking the first step is often the hardest, but reaching out to our team can be the key to unlocking a brighter financial horizon. Together, we’ll build a personalized roadmap to debt-free living and financial security.
It's never too late to obtain debt help. Book your free consultation today
- Phone number
- 888-376-8488
- hello@harrispartners.ca
Contact form
Where you can find our mortgage debt relief services in Canada
No matter where you are in Canada, our mortgage debt relief services are just a phone call away. We understand the unique challenges faced across the country, and our teams are local professionals ready to help you find the best path forward.