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Financial Assistance Programs for Homeowners with Late Mortgage Payments

Facing late mortgage payments can be a stressful and challenging experience for homeowners in Canada. However, it is essential to know that there are financial assistance programs available to help homeowners during times of financial hardship.

These programs aim to provide support and relief to homeowners struggling to make their payments, preventing the risk of foreclosure and offering a path to financial stability. In this article, we will explore some of the key financial assistance programs available to homeowners in Canada.

  1. Canadian Mortgage and Housing Corporation (CMHC) Mortgage Payment Deferral

The Canadian Mortgage and Housing Corporation (CMHC) offers a Payment Deferral program that allows eligible homeowners to temporarily suspend their mortgage payments for a specific period. This program is designed for homeowners facing temporary financial difficulties, such as job loss, illness, or reduced income.

The deferred payments are added to the outstanding mortgage balance, extending the mortgage term. Homeowners should reach out to their lenders to discuss their eligibility and the terms of the deferral.

  1. Homeowners’ Repayment Assistance Program (HRAP)

The Homeowners’ Repayment Assistance Program (HRAP) is offered by the Government of Canada and provides financial assistance to homeowners who have experienced a significant reduction in income or a temporary financial setback.

HRAP helps eligible homeowners by providing interest-free loans to cover overdue mortgage payments, property taxes, or utilities. The loans are repayable over an extended period, allowing homeowners to catch up on their obligations without immediate financial strain.

  1. Property Tax Deferral Programs for Mortgage

In some provinces, there are property tax deferral programs that can assist homeowners with late mortgage payments. These programs allow homeowners to postpone paying property taxes if they meet specific eligibility criteria, such as age or financial need.

By deferring property tax payments, homeowners can allocate more funds towards their mortgage payments during times of financial difficulty.

  1. Provincial Assistance Programs for Mortgage

Various provinces offer financial assistance programs specifically tailored to help homeowners with late mortgage payments. These programs may include grants, subsidies, or low-interest loans to support homeowners in danger of defaulting on their mortgages.

Eligibility criteria and program details may vary by province, so homeowners should check with their local government for available assistance programs.

  1. Non-Profit Housing Organizations

Non-profit housing organizations and community agencies may offer financial counseling and support to homeowners struggling with late mortgage payments. These organizations can provide guidance on budgeting, debt management, and negotiating with lenders.

Homeowners can seek assistance from these organizations to explore available resources and create a viable plan to catch up on their mortgage payments.


Late mortgage payments can place significant financial strain on homeowners in Canada. However, there are several financial assistance programs available to provide support and relief during challenging times. From mortgage payment deferral programs offered by CMHC to HRAP, provincial assistance programs, and non-profit housing organizations, homeowners have options to explore and find the right assistance for their individual circumstances.

The key is to act promptly, communicate with lenders, and take advantage of available programs to protect homeownership and maintain financial stability. Homeowners facing late mortgage payments should not hesitate to seek help and take advantage of these valuable resources to secure their homes and pave the way towards a brighter financial future.

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