Americans struggling to pay their mortgages because they've lost a job or income during the coronavirus pandemic can put off that bill for up to a year due to the CARES Act.
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But while the economic measures should be creating a feeling of relief, many borrowers have been left anxious because of confusing messages from the government and banks.
Some homeowners say Wells Fargo, Bank of America and Chase have told them they have to repay those postponed payments – known as forbearance – in a lump sum once three months are up. It's an unexpected demand they fear could put them deeper in debt as millions are laid off and watching their retirement savings plunge with the stock market.
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This is the day that the Lord, has made, I will rejoice and be glad in it.
@Lola Samuels Satan comes to steal, kill, and destroy. Jesus Christ gives life and abundantly.
Why Not All useless boomers
Hur dur
Blue Skies I GOT MY STIMULUS CHECK THANK YOU TOO THE GREATEST PRESIDENT THIS NATION HAS SEEN DR. TRUMP 🇺🇸#MAGA
@The Nation praise Jesus Christ for His many blessings.
This is even more confusing, She clarifies nothing.
https://www.youtube.com/watch?v=P-7mzlnCkQo&t=88s
She didn’t help at all. We already know and have asked those questions. A useless video!!!!
Doesn’t seem to matter to them. I am sure they were paid for this, with the rest of them gloating they have a work at home job…
https://www.youtube.com/watch?v=P-7mzlnCkQo&t=88s
I like the Cares Act. I think it is good. It’s going to help alot of people in trouble
LOANS? REQUESTS? bad idea.
This wouldn’t be necessary if THE STATES WOULD JUST RELEASE THE FEDERAL EMERGENCY UNEMPLOYMENT MONEY.
WHY ARE THE STATES ARE STILL HOLDING UP THE EMERGENCY RELIEF?
https://www.youtube.com/watch?v=P-7mzlnCkQo&t=88s
This wouldn’t be necessary if the United States acted like the “Land of the Free” and didn’t have its citizens living under house-arrest and shutter businesses and communities by government fiat. DEMAND YOUR FREEDOM BACK
So without a job, magically after 6 months they will have enough money to pay 6 mortgage payments in a lump sum?
https://www.youtube.com/watch?v=P-7mzlnCkQo&t=88s
Whoah pee wee Herman has a new show
At the end the system is still designed just to slowdown the foreclosure which is not very helpful. The house still makes money while the people suffer. THE MIDDLE CLASS
She literally gave no information than what everyone already knows lol
https://www.youtube.com/watch?v=P-7mzlnCkQo&t=88s
What the hell is that?
Are you a home owner if you have a mortgage?
Technically yes. If u have equity.
Remember when Obama’s mortgage relief helped millions of people in 2008? Me neither. It was designed to be drowning in red tape and not to work on purpose. This stuff is all theatre.
D B Neither do you since Obama took office in 2009.
Wake up people look up Cyrus Parsa lawsuit
*debt debt for ever banks slave*
Why can home owners receive this kind of assistance and renters who cant? Can the slumlords who are benefiting from this still push eviction notices to those living in their homes?
Wells Fargo is only offering a forbearance. That way they can foreclose when you don’t have the balloon payment after the “relief”.
https://www.youtube.com/watch?v=BbVcdAECtZA
I don’t trust it. I think ultimately there will be loopholes that will allow the banks to foreclose more easily. Don’t fall for it.
WHERE’S my God Damn Electric Car!