FRESNO, Calif. (KFSN) -- People who borrowed a loan through the Fresno County Affordable Housing Program are being given a two-month payment break if they're financially impacted by the COVID-19 crisis.
The break, announced on Monday by the Fresno County Community Development Division, allows borrowers the option of stopping their monthly loan payments in May and June of 2020 without penalty.
FCCDD said that 128 Affordable Housing Program loans in Fresno County are eligible for the break; these loans all have mandatory monthly payments and generate about $25,000 in county program income each month, according to the announcement.
Borrowers can still pay, and any partial or full payments during the period would be applied to their loan balances.
The FCCDD added that the break does not cure any current loan defaults, but said late fees will be waived and missed payments will not be reported as delinquent during May and June.
Payment break offered for Affordable Housing Program loan borrowers in Fresno County