Governor Lamont Announces Mortgage Payment Relief During COVID-19 Crisis

[RandySF]

Last edited Tue Mar 31, 2020, 06:37 PM - Edit history (1)

90-day grace period for all mortgage payments: Participating financial institutions are now offering mortgage-payment forbearances of up to 90 days, which will allow homeowners to reduce or delay monthly mortgage payments. In addition, the institutions will:

Provide a streamlined process for requesting forbearance for COVID-19-related reasons, supported with available documentation;

Confirm approval and terms of forbearance program; and

Provide the opportunity to extend forbearance agreements if faced with continued hardship resulting from COVID-19.

Relief from fees and charges for 90 days: For at least 90 days, participating financial institutions will waive or refund mortgage-related late fees and other fees including early CD withdrawals.

No new foreclosures for 60 days: Financial institutions will not start any foreclosure sales or evictions.

No credit score changes for accessing relief: For those taking advantage of this COVID-19-related relief, late or missed payments will not be shared with credit reporting agencies.

https://portal.ct.gov/Office-of-the-Governor/News/Press-Releases/2020/03-2020/Governor-Lamont-Announces-Mortgage-Payment-Relief-During-COVID19-Crisis

[BigmanPigman]

1. This should be nationwide, as well as nationwide freeze

on bills from utilities, landlords, health insur, etc as well as giving everyone cash NOW for groceries, etc. I think Europe is doing this. Also, they are guaranteeing everyone will be able to go back to the same job at the same pay. For us to do the same thing it would cost about $13 trillion but I think it is an investment and will save us more in the long run.

[Karadeniz]

2. Good guy!