Frequently Asked Questions

Annual Statements

Arrears

Customer Service Specialists

Discharges

Interest Rates

Property Taxes

Payments

Renewals

Refinancing Your Mortgage

Secure Start

Selling Your Home

 

Annual Statements

My mortgage rate is shown at X% on the statement, but I just signed a renewal for Y%. Why is that?

My statement shows that I make monthly payments? I have switched to biweekly.

It shows payments received as $XXXX. I paid you $XX every month and it doesn't add up.

I paid you $XXX every month. The payments received and the interest paid don't add up.

My annual statement shows that I have 'no coverage' for Mortgage Life Insurance. I pay a premium every month.

I notice that there is a surplus in my tax account. Can I get this refunded to me?


Arrears

Can I skip a payment?

My mortgage payment will be returned. What should I do?

I am unable to bring my account up to date. Is there anything that can be done?

The recent NSF payment on my mortgage was due to an error by my financial institution. Why am I being charged an administration fee?

I need to delay my mortgage payment for a few days. Is this possible?


Customer Service Specialists

How can I contact one of your Customer Service Specialists?

What types of inquiries can your Customer Service Specialists handle?

When I call your toll-free phone number, where are the people I am speaking with?

I want to deal with the same person each time I call in, is that possible?


Discharges

Why do I have to pay a penalty to payout my mortgage?

What does per diem interest mean?

What does the discharge fee represent?

I recently paid out my mortgage. Do I need to cancel my Mortgage Life Insurance, Property Tax Service or my Pre-Authorized payments?

When will I receive my discharge documents?


Interest Rates

What will interest rates do in the next little while?

Why do interest rates change?

I have been offered a better rate by another Financial Institution, can you match?


Payments

Can I delay the date on which my payment is withdrawn?

May I make a permanent due date change?

Can I lower my payment amount?

My payments are $500.00. Why does my mortgage balance does not decrease by $500.00 with each instalment?

How do I increase my instalment amount?

How do I make a lump sum payment on my mortgage?


Property Taxes

How do I include my property taxes in with my mortgage payments?

Is there a service charge to have my property taxes included with my payments?

My taxes are included in my mortgage payment, but the city just sent me an outstanding tax bill. What should I do?

Why is my tax portion so high?

How to I cancel the tax portion associated with my mortgage?


Refinancing Your Mortgage

What types of refinancing do you provide?

I want to refinance my mortgage. How do I do this?

Are there any costs to refinance my mortgage?

What is an appraisal?

I am not sure I would qualify to refinance my home. How can I know for sure?


Renewals

When will I receive my mortgage renewal?

How can I find out what your interest rates are?

What should I do if I have received a lower rate from someone else?

Can I make additional changes to my mortgage at renewal?

I may be selling my home, should I select a short-term mortgage?

Who needs to sign the renewal offer?

What rate do I get if I convert my convertible, or variable rate mortgage?

What happens if I do not send back my signed renewal acceptance by the maturity date?


Secure Start

Do I really need to spend money on an insurance plan?
I have life and disability insurance with my employer already.

Am I required to get a complete medical exam?

When does my insurance coverage begin?

What happens to my insurance policy when my mortgage is up for renewal?

What is the maximum coverage for Life Insurance?

What if I decide to purchase a new home or require additional funds and want to increase my mortgage amount with RMG?

What does Disability Insurance cover?

What is the maximum coverage for Disability Insurance?


Selling your home

Can I take my mortgage with me to a new property?

I am selling my home and the purchaser wants to take over the mortgage, is that possible?

I want to stay with RMG. Can I start a new term, and mortgage with you?

How to I begin the processes mentioned above?