Im in Michigan, where they just announced a 3 week stay at home order, and my job is not considered essential.
Like the title says. I called Chase, who I’ve banked with for over a decade and refinanced my Mortgage with in 2017, to find out about deferred Mortgage payments, as several of my Friends have said they’ve done successfully with their Bank. All Chase is offering is to not report to my credit for the next 90 days if I have late payments. Nearly every other major mortgage provider is deferring payments for their customers due to the ongoing COVID-19. Am I missing something here? They did say I could apply for a Mortgage hardship program, and “see if an investor will allow a change”. However, I don’t think people should be having to do this at this time. I’m especially frustrated because I’ve talked to several people who told me they simply had to call their bank and the bank, understanding the situation, took care of them. I’m not in a unique situation, most everyone will be impacted in their ability to make mortgage payments.
Just to be clear, so no one misunderstands, I’m (we’re) not asking to just skip payments, but simply push them back to the end of the loan. From people that I’ve talked to, and articles I’ve read, this shouldn’t be this difficult.
If this is not the appropriate place to post something like this please let me know.
Chase’s facebook page is flooded with people saying the same things.
Disclaimer: This is a guest post and it doesn’t represent the views of IWB.