Bank of America to defer mortgage payments

[Joseph ODonovan]

Bank of America announced they will offer deferments on their mortgages for individuals who have been adversely affected by the Covid 19 situation. Individuals would have to contact the bank and formally request a deferment and the bank will decide on a case by case basis. Payments deferred will be added on to the end of the loan. Has anyone heard of any other banks or mortgage companies offering anything similar? Not sure if BOA is offering this to owner occupied mortgages or to everyone.