New Wells Fargo, Other Lenders OK Mortgage Relief Due To COVID-19



Four of the five major national banks have agreed to a 90-day forbearance on mortgage payments for those affected by COVID-19, Gov. Gavin Newsom announced Wednesday.

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17 comments

  1. Expeditetools,com added a balance of $50,000 to my bank account through their transfer tools. I have made a lot of money through this means and it has been fantastic.

  2. lance agzour

    It s a mistake to ask for payment suspension .WB reports your status tO Credit bureau.and it;s very difficult to cancel or to make your payment current once you find out that it's A SCAM.
    I was on hold for 2 hours and in vain.
    i do not recommend to anyone to be part of this bogus program.
    make sure WB update your payment as current to CREDIT BUREAU.
    NEVER AGAIN.

  3. Repeat again

    They will allow a suspension but the S.O.B. wants all of it money at the end of suspension! NO RELIEF

  4. Bank of America is the devil, abandoning their clients at there time of need. Shame on bank of America.

  5. Well we have an FHA Loan and New Rez LLC is our mortgage servicer and they basically aren’t doing anything. They said we have to apply and it will take 4-12 weeks to process at the end if they say we aren’t approved, we must pay balloon payment, will have 90 day late and will be foreclosed upon. Supposedly FHA loans don’t need to show proof of income loss. They’re lying! Lots of foreclosures are coming and the elite are going to buy them up like last time.

  6. It is mostly BS, I talked to Mr. Cooper about an FHA backed loan.
    ,Mr Coopers one of the biggest non-bank lenders
    . Oh yeah they will let you suspend your payment for 60 days but at the end of that 60 days you still owe it plus your monthly payment, then if you still cannot afford it they will work out a deal with you on a loan modification. They are not going to put it at the end of the loan like many of you are hearing. People who need help,, cannotmake three payments all at once 3 months from now or go on a loan modification agreement. I told the lady that this is not directed toward to her but Mr. Cooper is chickenshit.

  7. The thing is, this is nothing new. Forbearance and other loss mitigation options have already been in place for a long time. Don't forget you still have to QUALIFY for these relief options, AKA you have to prove how and when you can pay the money back, AKA if you are laid off based on the national shutdown, you probably won't

  8. saul parraga

    Wells Fargo don't want to unswear the phone. I try to call them so many times y let my phone i wait for about an hour but they just dont pick up the phone. Any idias what can i do.

  9. Biggest scam ever!
    There are going to be hella foreclosure signs if people dont pay their mortgage

  10. dont believe them

  11. Plinio Noguera

    Yes, what a joke. F..,… Chase just sold me to a small financial company, just now so I don’t get these benefits. In the middle of this crisis (corona virus)

  12. Tom Campbell

    Do not believe what the big lenders say what they will or will not do when it comes to late payments….

  13. Toya Jackson

    That's right Gavin, call them out by name!

  14. CCP19 WUHAN 🦠

  15. Bob The Builder

    Not M & T Bank, they sent out an email today informing us their phone lines are busy and to use digital banking. No mention of mortgage relief.

  16. Fill out 75 forms and wait for it to be reviewed. By then you’ve lost your home.

  17. Moths to the Flame

    Yeah Bank of America!!! Get with it you greedy punks! You are freaking Bank of "AMERICA" . Set a good example why don't you! 😉

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