There’s a move afoot overseas to delay mortgage payments for those affected by the coronavirus. Could it happen in the United States?
According to CNN Business, Royal Bank of Scotland, a leading UK bank, said Tuesday that customers who fall into financial difficulty as a result of the coronavirus can ask for their mortgage or loan payments to be delayed for up to three months. In Italy, which is suffering the biggest coronavirus outbreak outside China, the economic ministry said that mortgage payments would be suspended.
While no similar plans have been discussed yet in the United States, the IRS tax deadlines might be extended. The New York Times reports the Treasury Department is considering delaying tax payments beyond the April 15 deadline, as taxpayers and the Internal Revenue Service brace for economic disruption from the spread of the coronavirus.
The Securities and Exchange Commission (SEC), according to Axios, has already granted corona-virus-affected companies permission to delay filing their quarterly reports. The SEC was among the first agencies to announce regulatory relief.
See more info on the coronavirus financial impact.