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These banks make it increasingly difficult to alleviate a coronavirus mortgage



These banks make it increasingly difficult to alleviate a coronavirus mortgage

Millions of American homeowners who qualify for assistance under the CARES Act are given inconsistent or confusing information by more than two dozen banks that have federal-backed mortgages, a federal supervisor has found.

And even after federal officials contacted several banks, they failed to change their message.

This finding, released late April by the inspector general’s office of the Department of Housing and Urban Development, came from a survey of 30 financial institutions’ websites. The Times obtains the names of lenders through requests for public records.

Among the biggest offenders are Bank of America, MidFirst and Truist, which together have more than $ 63 billion in mortgages supported by the federal government.

Under the $ 2.7 trillion CARES Act, homeowners with government-supported mortgages are entitled to 180 days of patience and an extension of 180 days. Debt is not forgiven but fees will be written off, and policyholders do not need to provide documentation to request their case.

The rules are clear. But federal supervisors find that lenders don’t.

Eight of them, including Bank of America, have absolutely no information about patience on their public website. At least three banks, including PNC and Fifth Third Bank, incorrectly said the initial period was 90 days. The Fifth Third Bank did not mention the extension. JP Morgan Chase Bank said the initial period was three months and also did not mention an extension.

Only six banks, including Wells Fargo, which holds more than $ 178 billion in government-backed mortgages, are clear that the maximum period that customers are entitled to defer is almost one year, the survey said.

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The inspector general’s office referred the findings to the HUD, which, in a statement, said it had contacted the bank to “individually to correct every point of confusion.” But a recent review by The Times from the same website referenced in the inspector general survey showed that nothing had changed.

In a video, Chase now informs customers that it will allow extensions, but it is unclear about its length. Fifth Third Bank still failed to mention the extension, and Bank of America now display information about patience, but are less clear about eligibility for 360 days.

Responding to a review by The Times, HUD said it would “take appropriate action” if it knew “each service provider was not following [the agency’s] Requirements.”

Nationally, more than one fifth of adults surveyed by the U.S. Census Bureau reported that they were “few” or “not confident” in their ability to pay their mortgages in June. On Thursday, the Labor Department announced an additional 2.1 million people had filed for unemployment benefits last week, bringing the number of Americans seeking unemployment assistance to 41 million.

Asset Mortgage Bankers. It was also recently noted this week that the level of homeowners with government-supported loans using patience increased, with at least 4.2 million households.

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Portuguese historical films will premiere on 29 December.



Portuguese historical films will premiere on 29 December.

Method Media Bermuda will present the documentary FABRIC: Portuguese History in Bermuda on Thursday, December 29 at the Underwater Research Institute of Bermuda.

A spokesperson said: “Method Media is proud to bring Bermuda Fabric: Portugal History to Bermuda for its 5th and 6th showing at the Bermuda Underwater Observatory. In November and December 2019, Cloth: A Portuguese Story in Bermuda had four sold-out screenings. Now that Bermuda has reopened after the pandemic, it’s time to bring the film back for at least two screenings.

“There are tickets For $ 20 – sessions at 15:30 and 18:00. Both screenings will be followed by a short Q&A session.

Director and producer Milton Raboso says, “FABRIC is a definitive account of the Portuguese community in Bermuda and its 151 years of history, but it also places Bermuda, Acors and Portugal in the world history and the events that have fueled those 151 years.

“It took more than 10 years to implement FABRIC. The film was supported by the Minister of Culture, the Government of the Azores and private donors.

Bermuda Media Method [MMB] Created in 2011 by producer Milton Raposo. MMB has created content for a wide range of clients: Bermuda’s new hospital renovation, reinsurance, travel campaigns, international sports and more. MMB pays special attention to artistic, cultural and historical content.

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Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.



Maestro de Braga is the first Portuguese in the National Symphony Orchestra of Cuba.

Maestro Filipe Cunha, Artistic Director of the Philharmonic Orchestra of Braga, has been invited to conduct the Cuban National Symphony Orchestra, as announced today.

According to a statement sent by O MINHO, “he will be the first Portuguese conductor to conduct this orchestra in its entire history.”

In addition to this orchestra, the maestro will also work with the Lyceo Mozarteum de la Habana Symphony Orchestra.

The concerts will take place on 4 and 12 March 2023 at the National Theater of Cuba in Havana.

In the words of the maestro, quoted in the statement, “these will be very beautiful concerts with difficult but very complex pieces” and therefore he feels “very motivated”.

From the very beginning, Rachmaninoff’s Piano Concerto No. 2 will be performed by an Italian pianist (Luigi Borzillo), whom the maestro wants to bring to Portugal later this year. In the same concert, Mendelshon’s First Symphony will be performed.

Then, at the second concert, in the company of the Mexican clarinetist Angel Zedillo, he will perform the Louis Sfora Concerto No. 2. In this concert, the maestro also conducts Tchaikovsky’s Fifth Symphony.

“This is an international recognition of my work. An invitation that I accept with humility and great responsibility. I was surprised to learn that I would be the first Portuguese member of the Cuban National Symphony Orchestra. This is a very great honor,” the maestro said in a statement.

“I take with me the name of the city of Braga and Portugal with all the responsibility that goes with it, and I hope to do a good job there, leaving a good image and putting on great concerts. These will be very special concerts because, in addition to performing pieces that I love, especially Rachmaninov and Tchaikovsky, I will be directing two wonderful soloists who are also my friends. It will be very beautiful,” concludes Filipe Cunha.

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