Advice for Living Through These Uncertain Times

Sabeena Bubber • May 27, 2020

It only takes a quick trip to the grocery store to realize that life is VERY different than it was just a couple of months ago. COVID-19 has already left a permanent mark in modern human history. So as you continue life mid-pandemic, here's some good advice: don’t believe everything you read on the internet or see in the news.

As it relates to your personal financial situation.
As it relates to the Canadian economy.
As it relates to the value of your home.
As it relates to Canadian real estate values.

Because as the media continues to cover COVID-19, you can expect to see financial doomsday headlines; designed to grab your attention, get more outlandish as time goes on. The goal is to catch your eye with a wild headline so that you read an article (or watch a video) and are exposed to the advertisements contained within.

Media and news companies are in the business of selling advertisements, not providing you with accurate unbiased information.

The best way to grab your attention is with an attempt to instil fear or shock. One headline will read that house prices are expected to plummet, the next will claim mortgage defaults are on the rise by a billion per cent, while the next will provide incredible proof that house sales are expected to grind to a screeching halt and will never return to normal.

And although most of these stories contain *some* level of truth, rest assured that what may be true for the rest of Canada (or the US) is not necessarily true about your personal financial situation, your local economy, your local real estate, or your mortgage.

Don’t buy into the hype and get anxious about things you can’t control. 

It might be best to just turn off the TV, put down the newspaper, and stop scrolling Facebook. Especially if you aren't thinking of making a move anytime soon anyway! But if your mortgage is up for renewal, if you're thinking of buying a new property, or if you're looking to make a change with your investments, then it's best to talk with local professional and seek their advice!

Be influenced by those who have your best interest in mind!

If you have any questions about your mortgage, please don’t hesitate to contact me anytime. I’d be more than happy to let you know exactly where you stand.

SHARE THIS ARTICLE

RECENT POSTS

What You Need to Know About Porting a Mortgage When Moving

By Sabeena Bubber • September 9, 2026
This is a subtitle for your new post

Bank of Canada Holds Rate at 2.25% — September 2, 2026

By Sabeena Bubber • September 2, 2026
The Bank of Canada announced today that it is holding its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. While Canada's economic recovery is broadening, a new layer of uncertainty has entered the picture. Here is what happened and what it means for your mortgage.

Fell Behind on a Payment? Don’t Panic—Here’s What to Do

By Sabeena Bubber • August 26, 2026
Missed a Credit Card or Line of Credit Payment? Here’s What to Do If you’ve missed a payment on a credit card or line of credit and you’re worried about how it might affect your credit—or your future mortgage—this is for you. First things first: 👉 If you currently have an overdue balance, log in and make the minimum payment now. Seriously. Do that first. Everything else can wait. If You’re Only a Few Days Late Here’s the good news: Credit bureaus don’t record late payments until they reach 30 days past due. So if you missed a due date by a few days and paid it as soon as you noticed, it typically won’t show up on your credit report as a late payment—as long as you’re under the 30-day mark. That said, it never hurts to double-check. You can call your credit card company, explain what happened, and confirm the account is back in good standing. If you normally pay on time, they may even reverse the interest charged. It doesn’t hurt to ask. If You’re 30, 60, or 90 Days Behind If payments have gone past 30 days, your credit has likely been impacted—but the situation is still fixable. The most important step is to: Bring all accounts current as soon as possible Make at least the minimum payment on every account The faster you catch up, the more you limit the damage. Ignoring missed payments only makes things worse. If Cash Flow Is Tight If you’re struggling to make payments, communication matters. Contact your lender and keep them informed—even if you can’t pay right away. Lenders are far more willing to work with you when you’re transparent. What hurts your credit most is silence . If lenders don’t hear from you after repeated missed payments, they may write the balance off as bad debt and send it to collections. Collections can significantly impact your credit and stay on your report for years. How This Affects Mortgage Qualification Repeated missed payments can make qualifying for a mortgage more difficult—but timing matters. Once you’re back to making regular, on-time payments: Your credit can improve over time The impact of past mistakes becomes less significant If you’re planning to buy a home in the next couple of years, addressing credit issues early gives you far more options later. Final Thoughts Missing a payment doesn’t mean you’re “bad with money,” and it doesn’t mean homeownership is off the table. What matters most is how quickly you respond and how consistent you are going forward . If you’d like help reviewing your credit report or understanding where you stand from a mortgage perspective, feel free to connect. I’d be happy to walk through it with you and help you create a clear path forward.