Posted On Sep 19, 2025

In my 30-plus years in financial services before becoming a Mortgage Agent, I sat in boardrooms and helped manage multi-million dollar portfolios. I had a great career, a great title, and a path I thought was predictable. And twice, that path disappeared from under me in an instant.

 

Twice, I was part of a "restructure".

Anyone who has been through it knows the feeling: the sterile meeting room (or video call), the impersonal script, the box for your belongings. It’s a gut-punch that leaves you feeling powerless and uncertain. For me, the first thought that raced through my mind both times wasn't about my career—it was about my family and our home. It was about the mortgage.

Those experiences were tough, but they taught me an invaluable lesson that I carry with me every single day in my work: your mortgage needs a Plan B. That’s why I left the corporate world to start my own business—to help people build that resilience and control into their own financial lives.

 

Here's what I learned from my journey and how you can protect your family's biggest asset from life's unpredictability.

1. Your Emergency Fund is Your First Line of Defence

This isn't just generic financial advice; it's the bedrock of homeownership. Before we talk about mortgage products or rates, we need to talk about cash. Having 3-6 months of essential living expenses (including your mortgage payment) in a high-interest savings account is non-negotiable. This fund buys you time. It allows you to search for the right next job, not just the first one you're offered, without the immediate terror of missing a mortgage payment. It transforms a crisis into a manageable challenge.

2. Choose a Mortgage with Flexible Features

Not all mortgages are created equal. When I work with clients, we look beyond the interest rate to the features embedded in the fine print. These can be a lifeline when you need it most.

  • Payment Deferral Options: Some lenders allow you to skip a payment (or more) in times of financial hardship. Understanding these options before you need them is crucial.

  • Portability: If a job loss forces you to move, a portable mortgage allows you to take your mortgage (and its great rate) with you to your new property, saving you from potentially massive penalties.

  • Blend-and-Extend: If rates have dropped since you got your mortgage, this feature allows you to blend your current rate with the new, lower rate and extend your term, which can lower your payment without a full refinance.

3. Know Your Options Before Trouble Hits

If you face a job loss, the absolute worst thing you can do is go silent. Lenders are far more willing to work with homeowners who are proactive. The moment you anticipate a problem, you should be on the phone with your mortgage professional. We can explore all the options, from temporarily switching to interest-only payments to leveraging a HELOC for short-term cash flow, or even restructuring the loan. Acting early gives you the most leverage and the most options.

My journey through layoffs ultimately led me here, and I'm grateful for it. It gave me a profound sense of empathy for the anxieties that so many people feel about their financial security. A mortgage shouldn't be a source of fear. It should be a foundation. Let’s build one for you that’s strong enough to weather any storm.

Let's connect!

Ready to discuss your home ownership goals and a Better Mortgage by Dom?

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