Chemung Canal Trust Company helping as government delays mortgage payments

Business

ELMIRA, N.Y. (WETM) – Chemung Canal Trust customers impacted by COVID-19 issues can have a delay in their loan payments of up to three months.

Those that experienced layoffs, unemployment, or financial issues from COVID-19 can apply for a process to delay loan payments.

The bank’s Vice President, Michael Wayne, said they’re taking everything on a case-by-case basis. Therefore, if you haven’t heard from the bank, he said you can reach out for any concerns.

“Loan clients of Chemung Canal Trust Company that are impacted by a layoff situation, unemployment, any issue related to COVID-19,” said Wayne. “We have in place a process to be able to defer your payments for up to three months.”

They have drive-through options to receive payments or you can send money through your phone, email, or through their website right here.

Wayne doesn’t recommend having clients physically going to the bank to make their payments amid the coronavirus pandemic.

However, he wants customers to reach out with any questions and hopes to start providing financial relief right away.

One thing, however, for mortgage loan customers that have an escrow for taxes and insurance, that part of the payment will still need to be paid. That’s because they come up at any time of the year. Wayne says clients can still work out a deal if they reach out to the bank.

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