SPRINGFIELD, Mo- With many limitations in what businesses can be open, many have had to close their doors, leaving several employees around the Ozarks to file for unemployment.
For those filing for unemployment and own a home, some banks are suspending mortgages payments for a certain amount of time.
Doug Neff, Chairman and CEO of Southwest Region of Commerce Bank, says they are suspending mortgages on a client by client basis.
“The reality is is a very important part of many of our clients is their personal mortgage. Yeah, we are experiencing some activity around that. Each one of those situations is very unique,” says Neff.
He says due to job loss and income loss, clients have talked with Commerce about suspending mortgage payments.
“There’s absolutely situations where we put the payments on like a pause, for example where they may not make payments for three months, then we re-assess the situation,” says Neff.
Here is what Commerce Bank says on their website for those impacted by COVID-19:
- Taking care of our customers and team members is our top priority. The coronavirus (COVID-19) is having an unprecedented effect on the daily lives of many. Things are changing quickly, sometimes hourly. Commerce has been and continues to be diligent in monitoring the COVID-19 (coronavirus) impact, and the challenges we are all facing.
- Commerce Bank believes that every financial situation is unique and deserving of a personal response. We understand that the current situation may cause financial uncertainty and can be very difficult for many of our customers.
- If our customers are having financial difficulties due to job loss, reduced hours or other impact from the coronavirus – please know, we’re here for you.
- If you are a Commerce Bank customer facing financial hardship due to the impact of the coronavirus, please call us at 833-518-3458 to discuss your current accounts. You may experience an extended wait time due to high call volume. Your patience is appreciated.
To see more of how Commerce is helping, click here.
Other national banks have posted on their websites how they are helping:
Bank of America
- “Amid news about the coronavirus (COVID-19), we are committed to doing everything we can to meet your banking and investing needs. We’re here for you with the solutions, support, and advice you need to manage your finances and to navigate the volatility of the market.
- In the days to come, we will continue to devote all necessary resources to help ensure your personal safety, while maintaining all of the services you count on. And as new developments emerge, we will share information with you about how we continue to operate safely and effectively. “
- We also understand that there may be instances where customers find themselves facing financial difficulties. Capital One is here to help, and we encourage customers who may be impacted or need assistance to reach out to discuss and find a solution for you.
- Should you find yourself in need of assistance, please contact us.
- As always, the health, safety, and well-being of our customers, associates, and our communities is of paramount concern. We continue to monitor this quickly evolving situation and we’re here to assist our customers as needed. Please continue to check this site for relevant and timely information as the situation evolves.
Great Southern Bank
- Lobby service will be available by appointment only. Please avoid banking center visits if you are sick, have been exposed to the virus or have traveled to a high-risk area.
- If you need assistance with your accounts, you may contact the banking center nearest you by phone to schedule an appointment.
- Rest assured, we are deeply committed to being responsive to the needs of all of our customers and associates. We appreciate your understanding during this unprecedented time.
- As we continue to monitor developments regarding the coronavirus, PNC recognizes that some of our customers may be negatively affected by impacts of this global outbreak.
- As always, our focus is the safety and well-being of our customers, employees and the communities we serve, and our thoughts are with those who have been impacted.
- To that end, we stand ready to work with those experiencing financial difficulty as a result, and we are taking the necessary steps to avoid potential disruptions of service to our customers.
- If you’ve been financially impacted by COVID-19 and need help, call us at 888-287-7817.