(Bloomberg) — Bank of America said it has agreed to allow 50,000 mortgage customers to defer payments for three months because they’ve lost income as a result of the pandemic.The borrowers have all kinds of home loans, including some that are not federally backed, said Bill Halldin, a spokesman for Bank of America.To qualify for the government forbearance program, passed last week by Congress as part of the stimulus package, homeowners must contact their lenders and request help. It’s only for people who have a hardship because of the coronavirus, though it doesn’t require them to present proof.The new legislation …read more
Source:: Yahoo Finance
