Governor Lamont's administration has reached an agreement with over 50 credit unions and banks in Connecticut to offer mortgage relief to the state’s residents and businesses who continue to face hardship caused by the global COVID-19 pandemic.
Under the agreement, participating financial institutions will offer a 90-day grace period for all mortgage payments, which will allow homeowners to reduce or delay monthly mortgage payments. There will be no new foreclosures or evictions for 60 days. In addition, the institutions will provide a streamlined process for requesting forbearance for COVID-19-related reasons.
For at least 90 days, participating financial institutions will waive or refund mortgage-related late fees and other fees including early CD withdrawals.
For those taking advantage of this COVID-19-related relief, late or missed payments will not be shared with credit reporting agencies so there will be no credit score changes for accessing relief.