02/24/2026
Income dropped? Lost your job before mortgage renewal? You still have options....
With all the recent government and private sector layoffs and position changes, this is one of the biggest concerns we’re hearing:
“My mortgage is coming up for renewal… but my income has changed. What do I do?”
Here’s the good news 👇
If you're simply renewing with your current lender, you typically do not need to requalify. That means no new income verification , you can usually just select your renewal option and sign.
And in many cases, you may even be able to re-amortize your mortgage at renewal to lower your monthly payments , without it being considered a refinance.
That can:
✔ Reduce your payment
✔ Help your cash flow
✔ Buy you time to stabilize your employment
Before you panic .... know your options.
Watch the full episode of the House It Going Ottawa Podcast to understand what you can do and how to protect yourself.
If you’re unsure about your situation, reach out. A quick conversation can bring a lot of peace of mind.