New York Times: Mortgage Lenders Consider Plan to Suspend Payments Amid Crisis

New York Times, March 17, 2020: Mortgage Lenders Consider Plan to Suspend Payments Amid Crisis

Businesses across the country have ground to a halt because of the coronavirus outbreak, leaving millions of Americans wondering how they will make their next mortgage payments.

Their lenders may soon say they don’t have to worry — for a while, at least.

A broad group of bankers and other mortgage industry participants is working on a plan to offer a temporary pause in payments on home loans, according to the Housing Policy Council, a trade group that includes Citigroup, Wells Fargo, JPMorgan Chase and Quicken Loans.

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