Business
CBA launches moratorium on forced home sales until September 2021 – Sydney Morning Herald
The big four bank is the first to commit to avoid foreclosures as the industry grapples with the pandemic and how to support customers coming off loan deferrals….
“This means that any customer making full mortgage repayments in the 12 months prior to entering a home loan deferral will be able to remain in their home until September 2021, even if they are now struggling to get back to making repayments, where they agree to work with us.”
CBA sent a three-page document to the FCA to distribute to its financial counsellors, outlining which customers are eligible and urging concerned customers to contact their banks.
Ms Guthrie said the mortarium was a “terrific”…
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