Canadian Mortgage News
September 28, 2011
Homeowner Assistance Program
Helping Homeowners in Need
Genworth Financial Canada’s Homeowner Assistance Program is designed to help homeowners who are experiencing temporary financial difficulties, which may put their mortgage at risk. This could be the result of an unexpected life event, such as a serious illness, marital separation, or loss of employment. If your customer has a Genworth-insured mortgage, they can take advantage of our Homeowner Assistance Program at no extra cost. This program enables you to work in partnership with us to establish alternative arrangements to help your customers stay secure in their home when times get tough.
How we can help
Genworth has a dedicated team of Homeowner Assistance Specialists who are trained in identifying the best workout solutions for you and your customers. We have a number of options that may help your customers keep their home when faced with hardship.
Situations that qualify under the program
There are a variety of situations that may affect a homeowner’s ability to make their mortgage payments. Some common situations include:
- job loss or reduced income
- marital separation
- unexpected illness or disability
Options available
We will consider any solution that may alleviate the temporary financial burden of the homeowner. Each situation is assessed individually in order to determine the ideal workout solution. Some common options that can be considered are:
- Capitalized Arrears
- Increased Amortization Period
- Partial or Shared Payment Plan
- Deferred Payments
Initiating a Workout
No matter what the situation, the Genworth Financial Homeowner Assistance Program is a proven method for providing help to your valued customers when they need it the most. When a customer contacts you requesting financial assistance, there are some easy steps you can take, working in partnership with a Genworth Specialist, which will ensure a successful workout:
1. Identify the problem
2. Gather all the facts
3. Investigate & analyze
4. Contact Genworth Financial
5. Create and implement a plan
For more information, visit Genworth.ca, call us toll-free at 1-800-511-8888 or send us an email to: homeassist@genworth.com
Helping Homeowners in Need
Genworth Financial Canada’s Homeowner Assistance Program is designed to help homeowners who are experiencing temporary financial difficulties, which may put their mortgage at risk. This could be the result of an unexpected life event, such as a serious illness, marital separation, or loss of employment. If your customer has a Genworth-insured mortgage, they can take advantage of our Homeowner Assistance Program at no extra cost. This program enables you to work in partnership with us to establish alternative arrangements to help your customers stay secure in their home when times get tough.How we can help
Genworth has a dedicated team of Homeowner Assistance Specialists who are trained in identifying the best workout solutions for you and your customers. We have a number of options that may help your customers keep their home when faced with hardship.
Situations that qualify under the program
There are a variety of situations that may affect a homeowner’s ability to make their mortgage payments. Some common situations include:
- job loss or reduced income
- marital separation
- unexpected illness or disability
Options available
We will consider any solution that may alleviate the temporary financial burden of the homeowner. Each situation is assessed individually in order to determine the ideal workout solution. Some common options that can be considered are:
- Capitalized Arrears
- Increased Amortization Period
- Partial or Shared Payment Plan
- Deferred Payments
Initiating a Workout
No matter what the situation, the Genworth Financial Homeowner Assistance Program is a proven method for providing help to your valued customers when they need it the most. When a customer contacts you requesting financial assistance, there are some easy steps you can take, working in partnership with a Genworth Specialist, which will ensure a successful workout:
1. Identify the problem
2. Gather all the facts
3. Investigate & analyze
4. Contact Genworth Financial
5. Create and implement a plan
For more information, visit Genworth.ca, call us toll-free at 1-800-511-8888 or send us an email to: homeassist@genworth.com