Many people, including myself, are feeling concerned about the health crisis and financial crisis that is slowly developing in front of our own eyes.  We are experiencing a time of uncertainty, unknown territory, economic & market volatility and financial liquidity/solvency concerns.

This is why I decided to put together a Canadian HomeOwners Guide to the Health Crisis & Financial Crisis triggered by the COVID-19 Pandemic based on some great information found online.

As your broker, I carefully watch markets and the economy as it relates and integrates into real estate, mortgage financing and general finances, and we use data and information received form analysts, economists and other specific industry professionals that interrelates, in order to be able to better guide, counsel and advise our clients.  We also seek out important and helpful sources of other information that we can share with our clients.

I have found some great resources from PeakProsperity.com that we are implementing ourselves, and that I am sharing with others as I know this will benefit you immensely.

Peak Prosperity The Coronavirus Home Lockdown Survival Guide: How To Stay Healthy, Sane & Solvent.  Watch the video presentation here:

https://www.youtube.com/watch?v=C6NnSbZicJU&app=desktop

In summary: We do not know how long the coming mandatory lock-down quarantine period will last; it could be weeks, it could be months.

Stock your home for success, stay physically healthy, stay emotionally health, stay financially solvent.  This too shall pass.

Here are the recommendations – a Canadian HomeOwners Guide to the Health Crisis & Financial Crisis triggered by the COVID-19 Pandemic:

• Stock a deep pantry, have sufficient food supplies. 
• Use PPE (personal protection equipment) if you need to go out.
• Sufficient cleaning supplies to keep your home clean.
• Medicine and supplements and first aid supplies.
• Emergency preparedness eg. power outage, water etc.
• Reduce your non essential expenses.
• If you have emergency finances put away, now is the time to release it and have it available.  If you have some investments that you can liquidate, contact your financial advisor to assist you to release funds.  Hopefully your financial advisor had you prepare for times like this in advance.
• If you are a homeowner and you do not have 6 months worth of living expense finances put away, consult with your mortgage broker for options and potential of equity take out if sufficient equity is available in your property.  
• If you are a homeowner and you experience income loss and are at risk of default, contact your current bank/lender customer service departments to see what options they have available for relief on mortgage payments to avoid default.  You can also contact your mortgage broker for other solutions to avoid default and foreclosure to prevent loosing your home.
• If you are a tenant/renter, contact your landlord to see what options they have available for relief on rent payments to avoid default.  Also contact the Landlord & Tenant Board to review options to protect tenants during the COVID-19 pandemic. http://www.sjto.gov.on.ca/ltb/
• Review the Government of Canada Canada’s COVID-19 Economic Response Plan: Support for Canadians and Businesses to see what benefits and options are available to you.   https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html
• Alternatively get access to low-cost unsecured credit like a line of credit from your bank or credit union, or as a last resort high interest credit cards though only a last resort recommendation.
• Free up some cash by selling articles that are not used and/or not needed in the local market place using Kijiji or social media local marketplaces while you still can.
• Eat healthy food.
• Take your vitamin supplements, especially vitamin C&D to boost your immunity.
• Regular exercise.
• Sufficient sleep.
• Get sunshine & fresh air.
• Mind your mental & emotional health.  Stimulate your mind.  Read, learn, set goals, positive thinking, journal. Practice thankfulness in all circumstances.  Set up constructive activities.  Create routines. Stay connected with friends virtually.  Speak to someome if you need help – Mental health helpline ConnexOntario 866-531-2600. https://www.connexontario.ca/treatment-information-service-call
• Mind your relationships.  Avoid resentment and criticism.  Practise respect, patience, consideration, grace, mindfulness, kindness. 
• If you feel ill with mild flu symptoms, isolate and self medicate.  Stay hydrated and well nourished, and rest.  Regulate low grade fever with Tylenol. Should you develop respiratory distress, that is the time to go to hospital and seek medical help.  If uncertain, contact Telehealth Ontario for fast, free medical advice Toll-free: 1-866-797-0000.  Do not go to the Hospital unless you have to. 
• Stay informed and updated. Visit my Blog with regular updates on the economy and markets as the COVID-19 pandemic develops and evolves over time.  http://imortgagebroker.ca/blog/

We are living in very interesting times.  Remember that there have been way worse events in world history.  Let’s be thankful we live in a free country, with free healthcare (albeit high taxes to pay for that), where neighbours still care for neighbours, where our government though falling very short, is still a democracy and not communist.  Reminder of the words spoken by President  Franklin D. Roosevelt. ”The Only Thing We Have to Fear is Fear Itself”.

One last thought:  Fear is used to manipulate us. If you have one last fear, the fear over death, please reach out to me.  There is a great HOPE that overcomes death.