What's Hot: Apartments, Amphitheaters and Dave Chapelle: The Revised Proposals For DC's Reeves Center
Bank of America Allowing Borrowers to Defer Mortgage Payments
Bank of America has announced that in addition to pausing evictions, foreclosure sales, or repossessions, the bank is also telling its mortgagees that they can request to defer mortgage payments or payments on other home loan products. The bank will review these requests on case-by-case basis.
The deferred payments would be added to the end of the loan term, and the bank is assuring clients that these measures will not be punitively reported to credit bureaus.
story continues below
loading...story continues above
Clients will also have the option to request payment deferrals on other products, and to request reimbursement or waiving of late and overdraft fees.
Over the past week or two, the Federal Housing Finance Agency enacted a moratorium on foreclosures for houses backed by Fannie Mae, Freddie Mac or FHA mortgages, and those agencies issued guidance to lenders that coronavirus-related hardships qualified for forebearance.
See other articles related to: bank of america, foreclosures, home loans, moratorium, mortgages
This article originally published at https://dc.urbanturf.com/articles/blog/bank-of-america-welcomes-mortgagees-to-seek-payment-deferrals/16622.
Most Popular... This Week • Last 30 Days • Ever

Dupont Circle’s Swann House, a former 15-bedroom bed and breakfast, will be listed ... read »

There are two new proposals to redevelop the center at 14th and U Streets NW that are... read »

A recent build in Anacostia made history as the first code-compliant bamboo building ... read »

The recently-filed amendment would help move redevelopment of a police and fire stati... read »

Even as the residential development pipeline along 14th Street dwindles, there are st... read »
- One of Dupont Circle's Oldest Mansions to Hit the Market
- Apartments, Amphitheaters, and Dave Chapelle: The Revised Proposals For DC's Reeves Center
- The Week's Find: The Grass House in Anacostia
- Map Amendment Could Pave Way For Big U Street Redevelopment
- The 560 Units in Development Along 14th Street
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro