What Are Banks doing to Help Homeowners Impacted by COVID-19

3/26/20 UPDATE:

According to an announcement made by California Gov. Gavin Newsom on Wednesday.

“Wells Fargo, US Bank, Citi and JP Morgan Chase will defer mortgage payments for three months. State chartered banks and credit unions will offer similar deferrals. ”

Bank of America agreed  to allow customers to defer mortgage payments for one month.

We will update with more details as it becomes available.

3/25/20 – In addition to what the Federal Government is doing to help homeowners impacted by COVID-19, some banks have reported that they will provide assistance.  Here is a list of what we know to date.  We will update this as new information becomes available.

If you find you unable to pay your mortgage due to the economic impact of the COVID-19 Pandemic, please contact your servicer to see if you can work out a payment plan.  It is imperative that you do not stop paying before you speak with them.


According to their website,  you can defer your payment for up to 120 days with no impact to your credit. Contact them directly for more details:


Bank of America:

Clients with mortgages and home equity loans may request to defer payments.  Contact them directly for more details at:


JPMorgan Chase:

The bank has said it will offer additional assistance to those affected by coronavirus.  Contact them directly for more details:


Citi Mortgage (Cenlar)

According to their website, “For eligible Mortgage Customers: A range of hardship programs through their service provider, Cenlar FSB.” They can be contacted at 1-855-839-6253 Monday-Friday 8:30am – 8pm ET and Saturday 8:30am – 5pm ET

Wells Fargo:

According to their website, “We’re suspending residential property foreclosure sales, evictions, and involuntary automobile repossessions. Also, on a case-by-case basis, we’re offering fee waivers, payment deferrals, and other expanded assistance for credit card, auto, mortgage, small business, and personal lending customers who contact us.”  Wells Fago contact information:



According to their website, “If you can’t make your mortgage payment due to the impact of COVID-19­—or for any other reason—please visit www.shellpointmortgageservicing.com and once you log in, select the Online Services tab, then Homeowner Assistance Solutions. Please click the Get Started button in the Options for Temporary Hardship box.We’ll review your application and get back to you to discuss your available options within 5 business days. You can also learn more in the Need Mortgage Help section of our website.”

SLS (Specialized Loan Servicing):

According to their website, “If you are affected by COVID-19 and want to talk about the ways we may be able to help with your loan, please call us at 1-800-306-6062.”

Mr. Coooper: 

According to their website,  “If you are experiencing a financial hardship related to the pandemic, Mr. Cooper is committed to helping you in any way we can, and we may have additional programs you qualify for soon. If you need to contact us, call (888) 480-2432.”


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