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Two month “payment break” offered for Fresno County Affordable Housing Program borrowers

Post Date:04/16/2020 8:26 AM

 

Two month “payment break” offered for Fresno County Affordable Housing Program borrowers

FRESNO, CA, Monday, April 13, 2020 – The Fresno County Community Development Division has announced an optional two-month payment break for Fresno County Affordable Housing Program loan borrowers impacted by financial hardships resulting from the COVID-19 pandemic.

The payment break will allow borrowers the option to stop their monthly loan payments in May and June 2020 without penalty or late fees. The break applies to 128 Affordable Housing Program loans in the County that have mandatory monthly payments and generates approximately $25,000 in County program income each month.

Borrowers eligible for the payment break may continue to pay, and both voluntary and mandatory (full or partial) payments would still be accepted and applied to their loan balances.

This payment break will not cure any current loan defaults, including delinquent payments accrued prior to declared “state of emergency”, however late fees will be waived, missed payments will not be reported as delinquent and enforcement activity will be paused during the two-month break period.

The Community Development Division has sent notification of this payment break to all eligible borrowers.

For questions or more information, please contact the Fresno County Community Development Division at 559-600-4292

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