Commercial real estate owners may find relief under the Main Street Lending Program, but with many unable to qualify, the recently introduced HOPE Act, if enacted, will fill a much-needed gap.
Although the possibility may...more
In many cases, borrowers and lenders are working together to weather this crisis. A forbearance agreement is often the first step—after a pre-negotiation agreement is entered into.
A forbearance agreement can benefit both...more
4/14/2020
/ Banks ,
Contract Negotiations ,
Coronavirus/COVID-19 ,
Emergency Response ,
Financial Institutions ,
Financial Services Industry ,
Forbearance Agreements ,
Mortgage Lenders ,
Mortgages ,
NYDFS ,
Pre-Negotiation Agreements ,
Relief Measures
New York orders extraordinary measures requiring financial institutions to meet financial needs of and ameliorate the challenges being faced by customers affected by COVID-19.
- New York State has implemented...more