Hazel G. lives in Metro Vancouver and has a good job with the local school board. She’s a single mom with two teenaged kids and has been a renter for a number of years. She’s saved for a down payment that will allow her to purchase a home in the community where she currently lives to keep her mortgage and maintenance payments on par with her rent expense.

Her goal was to find a town house with a ground level entry so she could also take in her ailing brother who suffers with Muscular Dystrophy. He is restricted to an assisted living facility, where visiting hours are set and quality of life is also less than ideal.

Prior to the rule changes, she could qualify for a mortgage at the five-year contract rate. However, now the 4.64 per cent posted rate eliminates her from buying unless she moves much further east in the region, creating even greater strain on herself and the family.

Hazel and her family are devastated by the situation they now face with these new mortgage rules.