Jim Young | Reuters
President Donald Trump speaks during a Cabinet meeting on day 12 of the partial U.S. government shutdown at the White House in Washington, U.S., January 2, 2019.
Two major mortgage lenders are rolling out assistance programs to help customers who have been affected by the government shutdown.
Congress and President Donald Trump have been at a stand-off over funding for a border wall. In all, about 800,000 federal employees are expected to be furloughed or working without pay.
Affected workers are already grappling with incoming bills. The U.S. Office of Personnel Management’s verified Twitter account posted sample letters for federal workers to use with landlords and creditors as they seek relief for payments.
At least two banks have stepped up to provide federal employees with some help.
Wells Fargo said it will consider reversing overdraft fees for customers whose income has been disrupted due to the shutdown. Further, mortgage, loan and credit consumers may qualify for forbearance or other payment assistance programs.
What exactly consumers can qualify for will depend on their individual circumstances, said Tom Goyda, a spokesman for Wells Fargo. Click here for more information on the bank’s program.
In addition, Bank of America has also offered some help for affected clients.
“Our Client Assistance Program is available and designed to help clients experiencing financial hardship,” said Lawrence Grayson, a spokesman for Bank of America.
The relief that consumers can receive will depend on the particulars of their situations, but may include fee waivers, loan modifications and more, he said. Consumers can call the bank’s assistance line at (844) 219-0690.
Click here for a list of federal agencies and their contingency plans amid the shutdown.
Here’s how federal workers can shore up their finances and get through any lean times ahead.
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