New York To Suspend Some Mortgage Payments
Governor Cuomo's office has announced a plan to suspend mortgage payments for those facing financial hardship. At a press conference Thursday he announced the suspension of payments for those suffering financial hardship such as losing their job.
Cuomo also said they will postpone or delay foreclosures, waive fees for ATM machines and for credit cards and bank overdrafts. Earlier this week it was announced that New York would be suspending some student loan and medical debt payments for the 30 days with a possible extension.
According to Forbes, Cuomo had this to say, 'this is a real-life benefit. People are under tremendous economic pressure. Making a mortgage payment can be one of the number one stressors. Eliminating that stressor for 90 days, I think, will go a long way.'
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