03/04/2020
Anyone seeking to defer mortgage payments, pay real close attention to YOUR bank:
Wells Fargo: Will defer 90 days and at the end will move those payments to the end of the loan, modify your plan, or grant another 90 days.
Chase: will defer 90 days (ONE TIME ONLY) and at the end they will demand FOUR payments at once.
Each bank is handling this differently. Make sure you're informed before you do anything.
(This information is based on what was posted on their account pages as of this morning and is subject to change based on bank review of policies and may not be current information when YOU check)
Let me know if you have any questions I may be able to help you with as we navigate through these unprecedented times.