Page 39 - Sports Energy News, Cornwall, Issue No 115

www.sportsenergynews.com Issue #115 August 2022 39

Continued from page 38 issue, lenders can take legal action. This may result in foreclosure or power of sale, both of
for the unforeseeable future, such as losing a job. Missing a mortgage payment is often the result which involve losing ownership over a home. Speaking to an expert about managing mortgage
of a cash flow problem, where net household income is not enough to cover monthly expenses, payments in advance can help homeowners explore their options and avoid losing their home.
including mortgage payments. Lenders will keep their own records of missed payments and often report them to credit bureaus,
If the problem is short term, it may be worth exploring the idea of a mortgage deferral, where such as TransUnion Canada and Equifax Canada. As a result, missing a mortgage payment will
payments are delayed for a specific period of time. Some banks also offer mortgage payment have a negative impact on a person’s credit score. Your credit rating is like a financial passport,
vacation programs, which allow borrowers to make larger payments in advance, or pay a little so when lenders see that number, it indicates how reliable you are. Your credit score could really
more each month in order to take time off from paying their mortgage in the future. This can be take a hit if there were multiple late payments.
helpful for those who suspect it may be difficult to make their mortgage payments in the months Records of missed payments will remain on a person’s credit report for seven years. While
to come. it is possible for someone to improve their credit score over time, even one missed mortgage
Another option to consider involves putting off other payments if it means being able to meet payment can lower their credit worthiness. If somebody thinks that you may not pay them back,
your monthly mortgage obligations. Your least risky thing is to skip your next visa payment if they’re going to charge you a little bit more interest in order to hedge their bet against the fact
that will help you get current on your mortgage payment. that you may default later on.
If the problem is one that will affect mortgage payments in the long term, perhaps extending
the mortgage’s amortization rate is the best option. This would give homeowners the ability to OUR OFFICE IS CLOSED TO DROP INS. PLEASE PHONE AHEAD TO SET UP
make lower mortgage payments across more time. If missed mortgage payments are a recurring MEETINGS.
“Livin’ The Dream” Senior Tips...

It’s daunting. Are there tricks to with someone engrossed in a screen No dog? No problem! Borrow one!
know? or a listening device. That would Check around to see if one of your
Friends and relatives are be rude! Intrusive! A book invites new neighbour has a dog that needs a
reassuring. “I’m right here at your conversation. A screen prevents it. walk. Many older people or working
fingertips! Just a text or a phone call The same is true of walking. people appreciate a volunteer dog
away! We can FaceTime any time! A person walking invites casual walker, and every dog is grateful
It’ll be just like we’re together!” conversation with other walkers. for an outing! More conversation
starters. “No, he isn’t mine. I love
Which is fine. Helpful. Technology Generally, about the weather or some dogs and going for a walk, so I take
is great! Until it isn’t. aspect of the walk. The view. The Mrs. Smith’s dog Bouncer when I
wind. The wildflowers. But a person
Technology is a great way to stay walking with earbuds is busy. They can. Actually, I just moved to the
in touch with current friends, but it might be listening to their tunes, area. Perhaps you can tell me where
By Janeen Wagemans can interfere with making new ones. or an audio book, or talking on the I can find…,” and away you go!
A traditional conversation starter phone. Ear buds tell people that Another potential friend.
oving to a new town? Off to is to carry a book. If no one’s you’re occupied. You’re giving other Every casual interaction is an
Mcollege or university? Head- around, you have something to read. walkers “the hand”. Unavailable for opportunity to make a connection. If
ing to a retirement home? Sooner or If someone happens by, you have conversation. If you’re looking to you’re young, don’t hesitate to talk
later, whether by choice or circum- offered a handy conversation lure. make connections, keep your earbuds to older folks. They have relatives.
stance, you will be “new”. “What are you reading? Is it good?” in your pocket! If you’re not young, talk to young

They say, “Anywhere you go, all And you’re off to the races! If you want to guarantee folks. Same. Make connections with
your new best friends will be there Compare that to reading the same conversation, walk a dog. “What a real people. Don’t isolate yourself
waiting for you!” But the question book on a tablet, or even worse, pretty dog! What’s his name? What behind the comfort of a screen.
of how exactly to find them weighs listening to the book narrated breed is it? I had one like that when That’s a great way to keep old
on your mind. through ear buds! Same book. But I was a kid….,” and you’re off and friends, but it’s the kiss of death for

You’ll be out there. On your own. no one would initiate a conversation running! making new ones!