What happens when your mortgage comes up for renewal and you are unemployed

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Is it common practice for a bank to call 9 months before your mortgage comes up for renewal

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	Q. Can a mortgage renewal go through automatically?
	"Am not sure if it was really automatic or someone called them and they..." ON Canada - I have seen this happen to friends in the past. I am not sure if it was really automatic or someone called them and they just said yes. Unless there is an issue, the banks would love to keep your business and they may send you a confirmation letter with a deadline that if you do not answer back, the mortgage is renewed automatically. You may not be able to negotiate a better rate though. This answer closely relates to: Td canada mortgage automatic renewal Is a mortgage renewal automatic if payments were on time? Are morgages renewed automatic? Mortgage renewal is it automatic Does automatic stabilizers require the approval of the u s congress and automatically kicks into the effect? If automatic stabilizers kick in automatically when real gdp falls points 5 tax revenues and transfer payments both should fall tax? Mortgage renewal canada unemployed Is bmo mortgage automatically renewed? When do banks send out renewal mortgage papers? Comment Reply Report 0 0

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What happens when your mortgage comes up for renewal and you are unemployed

Industry Experts

Q. Can a mortgage renewal go through automatically?

"Am not sure if it was really automatic or someone called them and they..."