Back in October, during the week of the mortgage changes by the federal government, Steve P. was in the process of qualifying in Spruce Grove. He did qualify at the contract rate. His father was going to assist if needed, and and as it turned, he was needed due to Steve’s ongoing child support for the next four years.
His father was out of town for the weekend and the qualifying period ended the day he would arrive back, leaving no time to provide documents.
Steve’s had been subject to a difficult divorce for more than four years. He’s kept a steady job with great income the entire timer, along with good credit in the process.
He can’t move on with his life because of the mortgage changes, and now faces paying a rental rate that is the same as a mortgage.
He had owned his family home for 18 years already.
The new rules do not give consideration to differing circumstances and Steve is unable to move forward in his life.