FINANCIAL ASSISTANCE – RENT - MORTGAGE
A number of banks and financial institutions have announced they will assist federal employees who are trying to get by while not being paid.
Ally Financial (877.247.2559) Expanding benefits on an individual needs basis, such as refunds of transaction fees or non-sufficient funds fees; CD early withdrawal penalty waivers, late charge waivers, payment extensions.
Bank of America (844.219.0690) Client Assistance Program offers personalized financial assistance for individuals affected by the government shutdown.
Better Mortgage (www.better.com/shutdownrelief ) Emergency Relief Refi – allows federal employees to tap into their home equity for living expenses and delay loan payments for impacted federal government employees for up to 30 days after the end of the furlough.
Chase Bank (888.356.0023) is encouraging their customers to call and discuss certain hardship programs if they are employees of or do business with a US federal agency and their income is affected by the shutdown.
Citi Bank (888.248.4226) customers may be able to get fee and interest adjustments. With respect to mortgages, customers may be eligible for short term forbearance and repayment plans and/or loan modifications.
Congressional Federal Credit Union Furloughed employees and those working without pay can apply for the “Relief Line of Credit” with an interest-free rate over 60 days.
Discover (800.347.2683) Impacted federal workers who are Discover cardmembers or have a loan with Discover Bank may be eligible for assistance such as skipping a payment and having late fees and interest charges reversed if they miss a payment because of the shutdown.
Freedom Mortgage (855.690.5900) has created a team dedicated fully to evaluating every borrower’s situation that is experiencing hardship as a result of the federal government shutdown. These options may include repayment plans, special payment forbearance, and temporary partial payments, in addition to late fee waivers and temporarily suspending the reporting of derogatory credit information.
Ocean First Bank (732.240.4500 ext. 7714 – firstname.lastname@example.org) is assisting families affected by the shutdown with their Mortgage Relief Program to assist borrowers whose income is affected by the shutdown and are having trouble paying their mortgages. The bank will suspend mortgage and home equity loan payments for up to 90 days, without adding on additional fees and interest.
Penfed Credit Union www.penfed.org Offers to skip payment, furlough loan product, and/or direct deposit assistance.
TD Bank (888.751.9000) Can access up to $1,000 in additional funds with no overdraft fees or cost. They are also offering late fee refunds on must TD Bank credit cards and some loan assistance programs as well.
Wells Fargo (800.T0.wells) Will work with individuals and business banking customers whose income is disrupted as a result of the shutdown.
PayPal is offering cash advances of up to $500 in efforts to help federal workers.
Edgewood Properties Piscataway, will defer rent payments and waive any late charges until such time as back wages are received.
Magyar Bank Will work with customers to develop a personalized plan to address financial challenges.