U.S. borrowers seeking a reprieve from mortgage, auto or credit card payments because of coronavirus hardships are not getting the help they ...
U.S. borrowers seeking a reprieve from mortgage, auto or credit card payments because of coronavirus hardships are not getting the help they expected from big banks that promised assistance in recent weeks.
For instance, lenders offering 90-day forbearance on mortgage payments are limited in how they can structure help for customers whose loans are owned by investors. Favors told Reuters she waited three hours to speak to a customer-service representative, who said she could skip payments for 90 days without late fees. But she would need to get up-to-date by June 23rd or face penalties and a knock on her credit report.
Favors' frustrations echo problems described by several borrowers who have tried to tap assistance promoted by U.S. banks. That is cold comfort for people like Todd Ruddick, who had to close his Chicago restaurant last month due to coronavirus restrictions.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US pension funds may pour US$400 billion into stocks, lifting virus-hit markets -JP MorganU.S. pension funds that delayed rebalancing their portfolios are likely to pump about US$400 billion into stocks over the next two quarters, ...
Read more »
US crude oil futures up 4.8per cent, support at US$20MELBOURNE: U.S. crude oil futures opened 5per cent higher on Thursday, reversing Wednesday's losses, despite growing concerns about a looming ...
Read more »
Xerox abandons US$35b hostile bid for HPREUTERS: Xerox Holdings Corp decided on Tuesday (Mar 31) to abandon its US$35 billion hostile cash-and-stock bid for HP Inc after the coronavirus ...
Read more »
Coronavirus: US Navy captain says carrier faces uncontrollable spread, dire threatWASHINGTON (AFP) - The captain of the US nuclear-powered aircraft carrier Theodore Roosevelt told the Pentagon that the coronavirus is spreading uncontrollably through his ship and called for immediate help to quarantine its huge crew.. Read more at straitstimes.com.
Read more »
Coronavirus: US death toll exceeds official China tallyWASHINGTON (AFP) - The number of deaths in the United States from coronavirus has surpassed those reported by China, where the pandemic began in December, according to a toll published on Tuesday (March 31) by Johns Hopkins University.. Read more at straitstimes.com.
Read more »
US small businesses wait impatiently for government aid that could be slow to comeAs soon as New York officials began detailing their response to the coronavirus, Matt Preis knew his staff might be in trouble.
Read more »