NYS Mortgages Waived for 90 Days

On Thursday, March 19, 2020, Governor Cuomo announced that banks in New York State will waive mortgage payments for 90 days and suspend foreclosures[1]. The waivers will be dependent on financial hardship (those affected by the outbreak, including but not limited to layoffs)[2]. Fees involved with late payments and overdraft on ATM and credit cards will be ignored by banks.

[1] Everett, G. (2020 March 19). Banks to Waive Mortgage Payments for 90 Days. Crains. https://www.crainsnewyork.com/coronavirus/banks-waive-mortgage-payments-90-days

[2] McDonald, J. (2020 March 19). Paid Sick Leave, 75% Workforce Reduction, and Mortgage Relief. Times Union. https://blog.timesunion.com/johnmcdonald/paid-sick-leave-75-workforce-reduction-and-mortgage-relief/6064/ 2/10