Major Banks Agree To Defer Mortgage Payments For Three Months

JP Morgan Chase, US Bank, Wells Fargo and Citibank will defer mortgage payments for 90 days due to the coronavirus pandemic.

Bank of America says they “will work with customers on a monthly basis until the end of the crisis” in order to do the same.

The government has declared those with loans from government-sponsored agencies Fannie Mae or Freddie Mac will also be eligible to defer mortgage payments. Staggering new statistics show more than 3 million people filed unemployment claims between March 14th through the 21st.

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