Many of us have experienced or anticipate a loss of income due to the worldwide pandemic. If you are worried about making your payments now or in the near future, NOW is the time for you to CONTACT your service providers! There is Coronavirus Mortgage, Rental, Credit Card, Auto, and Personal Loan Relief but you have to ask for it!
Here is a list of some of the companies and other entities offering assistance and what you can expect from them.
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Charity | Health
Federal Relief On Mortgages
The Department of Housing and Urban Development (HUD) was ordered by President Trump on March 18 to suspend evictions and foreclosures for the next 60 days. The moratorium only applies to homeowners with mortgages insured by the Federal Housing Administration (FHA), a part of HUD that insures home loans made by FHA-approved lenders. The moratorium only covers FHA mortgages for single family homes.
The order not only prevents new foreclosure actions but also suspends all foreclosure actions currently in process.
Fannie Mae and Freddie Mac
The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae, Freddie Mac, and the Federal Home Loan banks, is providing payment forbearance to borrowers impacted by the coronavirus for up to 12 months due to hardship.
Additionally, Freddie Mac has implemented a program offering relief to multifamily landlords whose mortgages are financed with a Freddie Mac multifamily fully performing loan. Under this program, landlords can defer loan payments for 90 days by showing hardship due to COVID-19; in return, landlords are required not to evict any tenant based on nonpayment of rent during the forbearance period., Check if Fannie Mae owns your loan here. Check if Freddie Mac owns your loan here.
Private Mortgage Banks
In an email sent March 18, the online-only bank reminded customers with deposit accounts that they have no minimum balance requirements or monthly service fees to worry about. Ally Bank also said that for the next 120 days, it will not charge savings and money market account holders excessive transaction fees or charge customers for overdrafts. Furthermore, there will be no fees for expedited shipping of checks or debit cards.
Retail banking customers with questions can call Ally Bank customer care 24/7 (1-877-247-2559). On its hub page with information about the coronavirus, Ally Bank encourages customers to download the bank’s mobile app and enroll in online services. There’s also relief for Ally’s auto loan and home loan customers in the form of payment deferrals for up to 120 days, without late fees.
Ally Financial services a lot of car loans, and both have hotlines available for consumers facing financial hardship during this emergency. So even if you financed a used car, if you did so through your bank, there may be recourse. Both companies can also be contacted about existing credit card, personal loan, or other types of debt.
Visit Ally Financial's coronavirus response center
Bank of America
The bank noted that employees are trained to help decide what the right support for an individual customer looks like. A spokesperson for the bank also notes that, “As part of our regular practice, we offer assistance to qualifying consumer and small business clients facing hardships, including forbearance with certain fees.” Bank of America’s CEO has agreed to donate $100 million to support communities impacted by the outbreak.
Account holders are welcome to contact the bank if they need financial assistance. Through the bank’s Financial Center and ATM locator, you can find out whether the nearest Bank of America facility is open. The bank is also adjusting the hours at financial centers. All financial centers will be open at set times during the week and during normal hours on Saturdays. Its page noting the steps they’re taking in light of the spread of the virus also reminds customers that online banking and the Bank of America mobile app are also options.
Customers of the regional bank based in Birmingham, Alabama should contact a representative to find out whether they qualify for any assistance the bank is providing.
CDs opened before March 1 can be withdrawn without penalty upon request. A number is listed (1-844-222-3862) for customers who might benefit from a line of credit, credit card or loan payment extension or deferral. Upon request, BBVA is also waiving and refunding ATM fees charged by out-of-network banks and ATMs. The existing offers only apply through April 17, but this end date may be extended if needed.
BBVA advises that customers use this tool to check the status of their local branch or ATM. Branches are being kept clean and supplied with latex gloves for the banking staff and hand sanitizing stations for customers.
The McLean, Virginia-based bank has a page that’s dedicated to addressing questions and concerns related to the coronavirus. It’s asking customers to reach out if they’re going through a difficult financial situation. The customer support section of their website lists various phone numbers account holders can use depending on the product or account they have.
Effective Monday, March 16, Capital One Cafes nationwide are temporarily closing, the bank’s website says, “due to growing public health concern and in an effort to be proactive.” Branches in certain areas are also temporarily closing.
If you need to access a branch, check online first using the Locations Finder tool to find out if there’s one open near you. In the meantime, the bank recommends using its mobile app and other digital tools. Capital One ATMs, including most of the machines in the cafes and branches that are momentarily unavailable, are still accessible 24/7.
The CEO of Chase consumer banking has a message for customers listed on the bank’s website, noting that it’s donating $50 million to nonprofits to “help address immediate public health needs as well as long-term economic challenges.” The message also recommends that customers reach out to the bank if they need assistance as a result of the coronavirus outbreak.
Effective March 19, Chase is temporarily closing 20 percent of its locations (1,000 branches). The remaining branches will continue to operate, but will close early. Customers who need branch access should visit the Chase website to find the nearest open location. Otherwise, customers should use the Chase mobile app and its other digital features.
On March 9, Citi agreed for at least 30 days to waive monthly service fees for retail banking customers and waive penalties for early CD withdrawals. These fee waivers and an additional one for remote deposit capture fees are also waived for retail bank small business customers.
Mortgage customers may be eligible for a hardship program and Citi credit card holders may be able to increase their credit lines and benefit from collection forbearance programs. Customers should reach out to the bank to find out if they qualify for assistance.
In its branches, Citi is providing plenty of hand sanitizer and ensuring that workers are aware of health and safety guidelines released by the Centers for Disease Control and Prevention (CDC). Customers should use the ATM and branch locator to find out which branches have temporarily closed and which ones have adjusted their hours.
Citizens Bank announced March 23 that it’s dedicating $5 million to aid small businesses and communities affected by the coronavirus outbreak. Support will be provided through relief programs and also through customers with cash back credit cards from the bank willing to have all or a portion of their rewards contributed to the relief fund.
The bank’s resource hub with information about the coronavirus outbreak mentions changes at branches, including temporary changes in hours (Monday – Friday from 10 a.m. to 3 p.m. and Saturdays from 9 a.m. to 12 p.m. at locations normally open on weekends) and the installation of plexiglass windows to separate tellers from customers. Drive-up windows are still available, but branch visits must be scheduled as appointments in advance. Only two customers can be present in the branch lobbies at all times and employees are helping customers at teller windows one at a time.
Customers are encouraged to use ATMs and the bank’s digital banking services. Those struggling financially can call the bank’s contact center (800-922-9999) to discuss fees and options such as no-penalty access to CDs. Under the bank’s set of frequently asked questions, other phone numbers are listed for specific products and the bank notes that it is temporarily automatically increasing mobile deposit limits.
Discover has a page with frequently asked questions and phone numbers for customers with Discover loans and credit cards who have been impacted by the coronavirus.
Online banking customers who need assistance can call the number provided (1-800-347-7000). A spokesperson for the bank says customers may receive assistance related to payments, fees and interest.
Fifth Third Bank
Consumers experiencing financial difficulties as a result of the coronavirus should contact Fifth Third to find out whether they qualify for any of the hardship and payment loan assistance listed on the bank’s website, such as the vehicle and credit card payment deferral programs. Payment forbearance is available for Fifth Third mortgage and home equity loan customers. There are phone numbers listed on the website to get in touch with representatives (800-972-3030) and a dedicated hardship assistance line (866-601-6391).
There’s a fee waiver program that will ensure that Fifth Third consumers and small business owners with deposit accounts won’t be charged any fees for up to 90 days. Foreclosure actions on residential properties and repossessions of vehicles will also cease for the next 60 days.
Customers can check the branch and ATM locator to get the status of their nearest Fifth Third facility. Within the branches, staff are using cleaning procedures recommended by the CDC. Beginning March 21, branches are available for access by appointment only. Appointments can be made by calling your local branch.
The company announced via email that customers using the online banking platform and lender, known as Marcus, would be allowed to delay making payments for a month. No interest will be charged and your loan term will be extended by one month. And users with an Apple Credit Card — which is issued by Goldman Sachs — will be able to avoid making payments for the month of March entirely without worrying about accruing any interest.
In addition to offering personal loans, Marcus by Goldman Sachs is an online bank that provides access to high-yield CDs and savings accounts and no-penalty CDs that don’t charge customers for withdrawals beginning seven days after opening an account. CD holders who need extra funds can request an early fee-free withdrawal by calling a number listed on the website (1-855-730-7283).
The bank, which is headquartered in Pittsburgh, also has a page dedicated to answering questions customers may have related to the coronavirus. Effective March 20, the bank will close one-quarter of its branches until further notice and leave the rest open, operating mainly in a “drive-up only mode.” Hours for the remaining locations will be reduced and will be open during the week from 10 a.m. to 5 p.m. and from 9 a.m. to 1 p.m. on Saturdays.
Customers who need to visit a branch to access safe deposit boxes or other services not accessible via an ATM, a drive-up window or through the bank’s digital channels can make appointments. A PNC branch locator is available to see which branches remain open.
The bank also says it’s willing to assist account holders experiencing a financial hardship and has a customer service phone number listed (1-888-762-2265).
The Cherry Hill, New Jersey-based bank has a list of bank stores on its website that are temporarily closed. It also says that it is reducing hours at some locations and sending hand sanitizing kits as needed.
Account holders facing a financial hardship due to the coronavirus should call customer service (1-888-751-9000), which is available 24/7. Customers who cannot visit a physical location are being directed to TD Bank’s online and mobile banking platforms. They can also stop by ATMs to make withdrawals and deposits.
The bank, which formed out of a recent merger between SunTrust and BB&T banks, says on its website that it’s taking extra precautions to ensure the safety of its customers. Anyone who needs in-person branch access should go online to book an appointment. Some branches are closed and others are mainly operating through drive-thru lanes. Information about branch hours at BB&T and SunTrust branches is also online.
Other steps taken by the bank include waiving ATM surcharge fees temporarily for consumers and business owners and offering payment relief assistance for customers with credit cards, business loans and consumer loans. In addition, SunTrust and BB&T consumer credit card holders can get 5 percent cash back through Apr. 15 when they purchase certain items at pharmacies and grocery stores. There are also phone numbers listed on the Truist website that retail and business clients can call.
On Mar. 17, the Truist Financial Corp. pledged that it intends to donate $25 million through its Truist Cares initiative to provide aid and supplies to clients, employees and communities across the U.S. impacted by the coronavirus. Through the Truist Charitable Fund, a $1 million donation is immediately going to the CDC Foundation and Johns Hopkins Medicine. Through the Truist Foundation, a $3 million donation will be given to United Way organizations that support local communities.
Customers of U.S. Bank will also find a message from the CEO on the bank’s website. It outlines what the bank has done to protect its clients and retail bank customers, like providing extra hand sanitizer, wipes and spray in branches.
On March 13, U.S. Bank temporarily lowered costs for borrowers interested in personal loans and the bank’s Simple Loan product, which has been touted as a payday loan alternative for low-income Americans who need access to small-dollar credit options.
As of March 19, customers are being asked to use the bank’s drive-up windows as activity inside many branches has been reduced. Hours at all branches have also been reduced. Customers are reminded that they can check the availability of local branches and use the bank’s digital capabilities to bank at home.
Customers of Wells Fargo also have a hub page to access all updates regarding the coronavirus. Wells Fargo lists a phone number (1-800-869-3557) account holders can call if they need financial assistance and want to discuss their options.
The bank is encouraging account holders to use Wells Fargo’s digital tools. Call centers are still open, but some branches have temporarily closed and some hours have changed at certain locations. To find out more, there is a branch and ATM locator. In some branches, you’ll need to go online and make an appointment for activities that can only be done in person.
Wells Fargo services a lot of car loans, and both have hotlines available for consumers facing financial hardship during this emergency. So even if you financed a used car, if you did so through your bank, there may be recourse. Both companies can also be contacted about existing credit card, personal loan, or other types of debt.
Visit Wells Fargo's COVID-19 information center
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Several automakers, credit unions and private banks are currently offering payment deferrals for customers experiencing financial hardship.
BMW and Mini are urging customers in need of financial or account assistance to contact their financial services customer service to discuss what assistance may be available. They will be working with customers on a case-by-case basis.
BMW Financial Services website
Mini Financial Services contact page
FCA, which encompasses Fiat, Chrysler, Dodge, Jeep, Ram and Alfa Romeo, is encouraging customers to contact their loan servicer to discuss payment relief options. FCA customers may need to contact either Chrysler Capital or Ally Financial (discussed below).
Chrysler Capital coronavirus response
The Ford Credit homepage has a number existing owners can call to discuss payment options for their Ford or Lincoln.
Visit Ford Motor Credit
General Motors (which includes Chevrolet, Buick, GMC and Cadillac) has set up hotlines for owners with questions or concerns about their loans.
Visit Chevy Cares
Honda and Acura are offering up to 60 days of deferred payments, along with late-fee waivers for owners impacted by the crisis.
Honda Financial Services contact page
Acura Financial Services contact page
Hyundai has relaunched Assurance, a program it originally introduced in 2009 during the economic downturn to offer help to consumers. It provides up to six months of payment relief for owners who lose their jobs, making it the most generous outright assistance package we've seen.
Visit Hyundai Assurance
Kia currently has up to 90-day payment deferral available for existing customers impacted by the coronavirus pandemic.
Visit Kia Motors Finance
Maserati is offering relief too. The high-end carmaker is waiving late fees and insufficient funds fees and offering 90-day payment due-date extensions and lease extensions of up to six months.
Visit Maserati Capital
Mitsubishi Motors is allowing owners to defer payments for up to 120 days if they've financed through Mitsubishi's partner Ally Financial. You can find contact information for Ally Financial below.
Mitsubishi's Coronavirus statement
Nissan's finance arm, NMAC, has a hotline set up for customers to discuss payment rescheduling for Nissan and Infiniti vehicles. As with Ford, Toyota and others, it's hard to say what relief exactly owners can expect or how much it may vary from person to person, but there's no reason not to reach out for help if you need it.
Visit Nissan's COVID-19 response page
Porsche. If you're leasing a Porsche, the company will extend your lease for up to six months (it normally offers a two-month extension contract). Certain customers will also be able to defer lease payments for 30-60 days based on individual need.
Visit Porsche Financial Services
Toyota Financial Services and Lexus Financial Services can be reached by phone or email to discuss payment extensions and deferments for leases and loans. We appreciate that Toyota, like other brands, is including its luxury arm to help those buyers who may also suddenly find themselves on less solid footing.
Visit Toyota Financial Services Visit Lexus Financial Services
Both Wells Fargo and Ally Financial service a lot of car loans, and both have hotlines available for consumers facing financial hardship during this emergency. So even if you financed a used car, if you did so through your bank, there may be recourse. Both companies can also be contacted about existing credit card, personal loan, or other types of debt.
Visit Wells Fargo's COVID-19 information center
Visit Ally Financial's coronavirus response center
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California Coast CU - Loan Payments Automatically Deferred for 60 Days
All members in good standing can choose to have their consumer loan (auto, personal loan and credit card) payments at California Coast Credit Union deferred for the next 60 days with no fees. No need to contact us to defer your payment! If you do not need financial relief, continue to make your loan payments as usual.
SDCCU - If you choose not to make your payment by the due date, SDCCU will automatically advance the due date for you, and defer your payment 90 days, with no fees. This is for SDCCU auto loans, credit cards, and personal loans. No need to call us, this deferment will happen automatically. Additionally, if you don’t need financial relief, please continue to make your loan payments as you normally do.
Navy Federal CU- 1-888-842-6328
Members are encourage to call if they are in need of a Loan extensions, Deferred Payments or Emergency Loans
North Island Federal CU - Automatic Consumer Loan Payment Deferrals You can defer payment of the following California Credit Union consumer loans for up to 60 days without any fees or penalties. You do not need to take any action or contact us to defer your payment; the due date will automatically be advanced if we do not receive your payment.
- California Credit Union Auto Loan
- California Credit Union Personal Loan
- California Credit Union Savings Secured Loan
- California Credit Union Personal Line of Credit
Mark Kantrowitz, publisher and vice president of research for Savingforcollege.com, said student borrowers with federal student loans could see a suspension of loan payments with no interest accruing for up to six months, under the Republican stimulus bill introduced Friday. The suspension of payments would last three months at first and then an additional three months could be added at the discretion of the Department of Education
South County EDC's Emergency Business Loan Program: https://www.southcountyedc.
SDG&E Initiatives to help business customers during COVID-19 4.14.20: Find out more about SDG&E’s bill discount programs at sdge.com/assistance.
United Way San Diego Worker Assistance Initiative: https://uwsd.org/
City of San Diego:
- San Diego Small Business Relief Fund: https://www.sandiego.gov/economic-development/resources/relief
- News Release from City of San Diego on Economic Relief for Businesses: https://www.sandiego.gov/mayor/news/releases/mayor-faulconer-outlines-economic-relief-package-san-diego-businesses-affected-covid-19
2-1-1 San Diego: 211 San Diego is the region’s trusted source for access to community, health, social, and disaster services.
California Covid Resources from Assembly Woman - https://a80.asmdc.org/coronavirus-resources-are-available-you-and-your-family
The City of Chula Vista - Important information and resources available to businesses/employers to aid your financial recovery, such as low-interest loans. (www.chulavistaca.gov/
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County Treasurer offers property tax filers wishing to file a penalty cancellation request on late property tax filings due to the impacts of COVID-19 a form to file - Click Here -
You can contact C.A.R.’s COVID Relief Hotline by calling (213) 351 8450, Monday-Friday, 8:30 a.m. – 4:45 p.m.
C.A.R. also has many other resources available on: https://www.carcovidupdates.
Financial Resources for Agents from CAR- https://www.carcovidupdates.org/relief-faq-for-agents
Financial Resources for Brokers from CAR- https://www.carcovidupdates.
California has several resources for small businesses navigating the effects of COVID-19. If you're looking for information, check out:
California State Treasurer Fiona Ma's Office: https://www.treasurer.ca.gov/
California Governor's Office of Business and Economic Development (GO-Biz): https://business.ca.gov/
CA Infrastructure and Economic Development Bank (IBANK) - Disaster Relief Loan Guarantee Program (DRLGP) or Jump Start Loan: https://www.ibank.ca.gov/
California Pollution Control Financing Authority (CPCFA) - California Capital Access Program (CalCAP) for Small Business: https://www.treasurer.ca.gov/
Franchise Tax Board (FTB) - Tax Filing Extension: https://www.ftb.ca.gov/about-
California: Employment Development Department - Unemployment and Tax Assistance: https://www.edd.ca.gov/about_
F.A.Q. On Stimulus Checks, Unemployment and the Coronavirus Plan; greatly expand unemployment coverage and make a number of other changes
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SBA- Economic Injury Disaster Loan Program
IRS unveils new People First Initiative; COVID-19 effort temporarily adjusts, suspends key compliance program | Internal Revenue Service
SBA 7(a) Payroll Protection Program
The CARES Act appropriates $349 billion to the SBA 7(a) loan program. The SBA will receive increased funding to allow staff to process applications more quickly, and can temporarily grant SBA lender status to lenders not currently participating in the program. Finally, it provides additional grant money for Small Business Development Centers around the country to provide aid and education to small businesses during the crisis and recovery.
WHAT DOES THIS MEAN FOR REALTORS®?
- REALTORS® who are negatively impacted by the COVID-19 crisis are able to apply for SBA 7(a) loans of up to $10 million to cover business operating costs, including payroll, during the crisis (businesses with 500 employees or less).
- Small businesses and commercial tenants - clients of commercial practitioners – will be able to apply for these loans to cover business expenses, including rent and mortgage interest, during the crisis as well.
- A portion of the loans - that which goes toward payroll, rent, mortgage interest, and utilities - will be made forgivable for employers who maintain current salary levels (or bring staffing/salary levels back up by April 1 to pre-COVID-19 crisis levels). Employers who reduce their employee numbers or salaries will have the forgivable amount phased out, depending on their numbers.
- San Diego is included in the covered areas. Check out this link for More information or Register and apply here.
The SBA has launched the Paycheck Protection Program. These loans are up to $10 million and the SBA will forgive these loans if all employees are kept on payroll. The money can also be used for rent, mortgage interest, or utilities. You can find more information or apply online now.
NAR and CAR Resources
C.A.R. COVID Relief Hotline: Members can call the new hotline at 1-213-351-8450 or email firstname.lastname@example.org for information on and assistance with applying for financial relief efforts available to REALTORS®, such as Small Business Administration and Paycheck Protection Program loans. The hotline will be staffed between 8:30 a.m. and 4:45 p.m., Monday through Friday.
NAR staff experts will provide live guidance, specifically covering COVID-19, through a new “hotline” service. Dial 1-800-874-6500 and follow the prompts to access these experts. Member Support representatives are equipped with the most up to date information on NAR’s response to the crisis, as well as resources and services available to members to help you navigate these uncertain times.
CARES Act “Economic Stimulus”: Coronavirus Aid, Relief, and Economic Security (CARES) Act : Provisions for REALTORS® and their Consumers
NAR Right Tools, Right Now Initiative: Benefits Discounts and Information to help REALTORS during this crisis.
NAR SBA Loan FAQs which covers the Paycheck Protection Program (PPP) and Economic Disaster Injury Loans (EDIL) included in the CARES Act and are available to self-employed workers, independent contractors, sole proprietors, and individuals who work on Commission: Coronavirus: NAR SBA CARES Act FAQs.
If you have updates and new contributions, please reference links and other information and email your update with a link to email@example.com
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Food Drives and Charitable Organizations
Senior Meal Programs
San Diego Food Bank's Senior Food Program is a federal program that provides monthly supplemental food packages to income-eligible senior citizens ages 60 and over. The Food Bank administers the program and distributes USDA-provided food at distribution sites every month, throughout San Diego County.
New State Program Delivers Free Local Meals for Seniors
The Great Plates Delivered program is designed to help adults 65 and older and adults 60-64 who are at high-risk from COVID-19 stay home and stay healthy by delivering three (3) free, nutritious meals a day.
Meals on Wheels continues their delivery meal services with COVID-19 precautions in place.
Anyone over the age of 60 may receive meals and friendly visits. There are no socio-economic requirements. Meals on Wheels San Diego County charges a onetime, non-refundable fee of $35 to begin meal delivery service. The program accepts CalFresh EBT cards (SNAP) for meal payments. Meals on Wheels San Diego County subsidizes 60% of the costs for meals, delivery, and other services provided regardless of a senior's ability to pay. To enroll, call: Metro San Diego Service Center: (619) 295-9501 or South County Service Center: (619) 420-2782
Kimball Senior Center will distribute food to those 60 and older every fourth Thursday of the month from 9 a.m.-12 p.m. at 1221 D Ave National City, CA 91950.
National City Senior Center: Lunch program has been modified to Pick-Up ONLY. Home delivered meals will continue as usual.
Jewish Family Services (JFS) offers mobile delivery of meals on a sliding scale. This service is available to seniors and younger adults with disabilities or health conditions that prevent them from leaving their home. Meals are prepared daily in the JFS onsite kosher kitchen. JFS also offers low-sodium, gluten-free and vegetarian options. Contact (858) 637-3210.
Other Meal Programs
San Diego Food Bank - https://sandiegofoodbank.org/
Feeding San Diego- Can be found - Here -
Chula Vista Food Services Inc - $30 Bag of Food/Produce as of March 31st - Here -
Food Bank List from - Needhelppayingbills.com - Here -
California Food Bank List - http://www.cafoodbanks.org/
Salvation Army - https://sandiego.salvationarmy.org/san_diego2/covid-19
California Covid Resources from Assembly Woman - https://a80.asmdc.org/coronavirus-resources-are-available-you-and-your-family
How to Get Help Paying for Insulin During the COVID-19 Pandemic Check the company name on your insulin vial or pen, and contact:
• Novo Nordisk NovoCare: 1-844-NOVO4ME | 1-844-668-6463 - Click Here -
• Lilly Diabetes Solution Center: 833-808-1234 - Click Here -
• Sanofi Patient Savings Programs: 1-855-984-6302 - Click Here -
• MannKind Support Programs: Co-Pay Program or Direct Purchase Program
• For more information and resources to help pay for insulin, visit the ADA's website here: https://www.insulinhelp.
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