Bank of America Allowing 50,000 Borrowers to Defer Mortgage Payments
Bank of America (NYSE: BAC) is giving a large group of its borrowers a large break. The company is allowing 50,000 of them to defer their mortgage payments, Bloomberg reported Wednesday. Those customers may defer their payments for up to three months due to the financial impact of the SARS-CoV-2 coronavirus outbreak.
In mid-March, the bank announced that mortgage clients facing hardship could request that it grant both deferrals and refunds for late fees on their payments.
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Source Fool.com
