Picture this: you bought your home at the peak of the market. Now your renewal is coming up and your monthly payment could jump by $1,500 or more. You feel trapped. This isn’t hypothetical, it’s a growing reality for homeowners in the GTA, creating financial strain that the headlines don’t show.

In this episode, we explore mortgage distress and so-called “zombie mortgages.” From negative equity to renewal cliffs, we break down what’s happening behind the numbers. Average prices have dropped from $1.3 million in 2022 to around $1.07 million today, and interest rates are much higher than during the low-rate years. Many households are confronting a harsh new reality.

We cover the triggers that create financial strain, including income shocks, payment shocks at renewal, and homeowners trapped between selling at a loss or facing unaffordable payments. We also discuss practical solutions, from re-amortization to mortgage deferrals, and strategies to navigate this period safely.

In this episode you’ll learn

• Why the “renewal cliff” is hitting so many homeowners

• How negative equity and higher rates create zombie mortgages

• Steps to take if your renewal is coming up and affordability is a concern

• Early signs of distress in investor-heavy areas and what it means for the market

If you’re renewing your mortgage soon, thinking of selling, or just trying to understand the GTA housing market, this episode gives you clarity, context, and actionable advice.

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