|Updated: 10/09/2013 1:58 pm
||Published: 10/09/2013 1:58 pm
Arvest Bank recently announced that customers whose ability to make regular payments as a result of the partial government shutdown on consumer and mortgage loans may be able to temporarily defer those payments.
“We encourage all consumers who are affected by this to contact their bank and find out what their options for assistance are during this time,” said Kirk Hays, EVP/Sales Manager, at Arvest Bank in Tulsa. “The government shutdown is out of our customer’s control and we want to assist them in keeping their finances on track while their pay is impacted. At Arvest, we always strive to do what is best for our customers, and that is especially true in a time of need like this.”
Mortgage loan customers may be eligible for short-term hardship programs, which include partial or full mortgage payment deferment while off work. The forbearance period will then be followed by other loss mitigation options to assist in making up the deferred payments. Consumer loan customers have deferment options as well.
Those who are currently financially strained by the government shutdown should call their Arvest Bank loan officer to learn what their options are during this time. There is no fee for requesting this assistance.
Mortgage loan customers should call mortgage customer service at (800) 232-5524. Consumer loan customers should call (866) 952-9523 or their loan officer.
During the government shutdown, applications for new home loans are still being accepted and processed and Social Security check deposits should not be affected. Benefit payments and pensions should also still be functioning as normal. If a consumer has a question about their Social Security check that is not in relation to the shutdown or other questions about deposit accounts, they can call customer service at (866) 952-9523.