The residents of New Jersey must be heaving a heavy sigh of relief now. Imagine the temporary respite they must feel upon hearing that homeowners whose finances have been affected by the novel coronavirus will get a 90-day reprieve on their mortgage payments.
Lenders will also waive late fees and other expenses that borrowers would otherwise incur due to the grace period, Murphy announced in a tweet.
The banks are offering a mortgage payment forbearance mortgage of up to 90 days for COVID-19 related reasons. In a forbearance, mortgage holders can pause or reduce the amount they pay each month for a specified period of time.
Under the deal with New Jersey, lenders will provide homeowners with a streamlined process to apply for forbearance. They will offer borrowers a chance to ask for more relief, if they continue to show they’re facing hardship related to coronavirus.
Let’s not even talk about the state of mortgaging in Nigeria at this point, lets look at it from another interesting angle. Days onward during this season, weeks and months match away, dragging us quickly into rent season. What do you think would be the disposition of Landlords in Nigeria if you’re a home renter or tenant? Do you foresee your landlord cutting you some slack, giving you some financial cut in your rent, or giving you a 90 or more grace period?
The threat of incoming rent looming over your head cannot be a funny one. Especially in times like this. So what better time to seriously look into the possibility of owning your own home, even if it’s a 2 bedroom for starters in a secure estate location with modern facilities, especially of the payment options are really flexible and staggered over a period of time? Let’s get you out of the clutches of Landlords and rent by setting you up with owning your home today. Get in touch with us to get started on: 08187566666 and visit our virtual office using this link: virtual.landweyinvestment.com