Wednesday, January 26, 2011

TD's new flexible payment features

Today TD Canada Trust is introducing additional flexible payment features that will give customers more choice and control over their lives when they really need it.

■Pay down your mortgage ahead of schedule and you may have the ability to reduce your payments later for up to 4 months

New and renewing customers who pay down their mortgage ahead of schedule may qualify to later take advantage of a temporary reduction in their regular mortgage payment amount, an option that may be helpful in the event of short-term income reduction
■Pay down your mortgage ahead of schedule and you may have the ability to take a break later for up to 4 months

By paying ahead, not only do you get the benefit of paying off your mortgage faster, you also have more flexibility and control and may qualify to take a temporary break later when you really need it. This added flexibility can make things easier in many situations such as a maternity leave, caring for a loved one or temporary job loss.
■Pay down your mortgage on schedule and you may have the ability to defer or reduce a payment later

A major event can throw anyone off track. If you’ve been paying your mortgage on schedule and are unexpectedly facing a major expense or an unanticipated reduction of income, at TD Canada Trust you may be able to defer or reduce one monthly mortgage payment a year up to four times during the life of their mortgage.

Interest continues to accrue during each of these events and is added to the outstanding balance at the time of each regular payment date.

If you are interesting in obtaining a TD mortgage, please contact me!

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