Chase Mortgage

[zagguru]

Received this email from chase

Here's some additional information about your mortgage payment assistance. Your account remains protected.

Dear XXXXXXX ,

Your mortgage account ending in XXXX is enrolled in a 3-month mortgage payment assistance program. Your account was enrolled in March 2020.

Your payment assistance start month depends on the month you enrolled and when you made your payment for that month. For example, if you enrolled on March 26 and made your March payment before you enrolled, your assistance begins in April. If you enrolled on March 26 and didn't make your March payment before you enrolled, your assistance begins in March.

What to expect
If you can continue making your mortgage payments, you should do so, but you're not required to.

Before the end of the payment assistance period—also known as forbearance—we'll be in touch to explain possible options that may be available for you to repay the delayed payments, which are due at the end of the period to keep your account current. These options may include:

An extension of your payment assistance period

Moving principal and interest payments, as a single payment, due at the end of your mortgage

Extending your loan term

Standard mortgage assistance options such as a repayment plan or a loan modification

We'll stay in touch during and after your payment assistance period and we'll work with you to determine the best next step for your situation.

What you should do
If you can't make your payments, you'll need to cancel automatic payments via chase.com or on the Chase Mobile® app. If you make your mortgage payments using a third party bill pay service, you'll need to work with them to cancel your automatic payments.

Make sure you add or update your email address on chase.com so we can stay connected.

Other important information
You can request an extension of this program, or you can complete an application for standard mortgage assistance programs at any time. We'll work with you to find the best option.

If you miss one or more payments, you may receive delinquency-related communications from us.

We won't charge late fees during your 3-month assistance period. During this assistance period, we won't report monthly payments that come due as late to the credit reporting agencies.

We also won't refer your loan for foreclosure during this program.

We're able to offer this payment assistance program without requiring a complete application because of these difficult times.

Please keep this letter for your records.


We hope this payment assistance will help you and your family.

Sincerely,



Home Lending Customer Service

Does this mean that they will report to credit bureau as forbearance or current/making payments as agreed?

[cgr]

Received this email from chase

Does this mean that they will report to credit bureau as forbearance or current/making payments as agreed?

They'll report as current but might make a notation that it's in forbearance.

[zagguru]

They'll report as current but might make a notation that it's in forbearance.

That might is a big deal.

[as2]

I though they weren't legally allowed to leave any negative notes on your report during this time.

[cgr]

I though they weren't legally allowed to leave any negative notes on your report during this time.

Notes they can. Just can't have it affect your score.
There's a thread on this already, I believe.