Hey guys, I've recently purchased a preconstruction (Alberta, Canada), and my mortgage guy offered me two rates, and I need some of your expertise in this.1. 25 year period at fixed 2.54%, which comes down to about $1548 a month for 5 years period.2. 30 year period at fixed 2.87% which comes down to about 1371 a month for 5 years period.option 1 has total interest: around 118koption 2 has total interest: around 160kI've always thought to lock it down at 30 years cause someone else is paying for that hence higher cash flow, but the mortgage guy is recommending at 25 years because of the low rate. what do u think?

It really is going to be a rough go in the near future to see how the clause is going to get interpreted and to what extent is it going to be allowed to used for just cause.

So mull on those for some time before you make a move.Also, keep in mind Phase 3 bailout caused the market to go up.

Great way to cause strife within a family.About asking a lawyer. 

If there wasn't a pandemic causing havoc there would be no question to continue, but here we are and I have to protect the family economy because I am concerned with what can be done with our current house.

Great advice and a perspective that I have considered but quickly dismiss cause "I can do it myself"

This will likely lead to some marginal stores shuttering for good, but high performers will stay open.In my opinion this is being magnified by COVID19, but that is not the root cause. 

@Robin Morales the housing market will drop when the mortgage market freezes.If they defer all residential mortgage payments too long, that will cause liquidity to drop significantly on the lending side.

I am eventually predicting a massive lending freeze on most loans which will cause prices to drop as no one is buying.

These are short term, and this author is hopeful, that the pandemic does not cause long-term financial implications.Rather than serve a 14-Day Notice to Pay or Quit it is recommended to be as flexible as one can at this time and negotiate rent amount due, time to pay or both – IF financial hardship is evident.For Landlords or managers that don't have the desire or ability to provide any flexibility, be prepared to wait until at least April 17th before the Massachusetts Housing court begins hearing eviction cases for non-payment of rent, (expect a back-log), and tenant-friendly judiciary at that point.A side note: for those that are unaware, or have historically not been interested in Section 8 or other subsidized housing programs (even though it's illegal in Massachusetts to decline an applicant solely based on the source or their rent payments), now is when you see some of the benefits – for tenant and landlord alike.