MOORE — With the federal government shutdown, many consumers may find themselves facing an unexpected time of financial hardship.
Arvest Bank said customers affected by the shutdown may have temporary relief options on consumer and mortgage loans.
Mortgage loan customers may be eligible for short-term hardship programs, which include partial or full mortgage payment forbearance 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 financially strained by the government shutdown should call an Arvest Bank loan officer to learn what their options are during this time. There is no fee for requesting this assistance.
Mortgage loan customers can call mortgage customer service at 800-232-5524. Consumer loan customers should call 866-952-9523 or their loan officer.
“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 Becky Franklin, AVP sales manager at Arvest Bank in Oklahoma City. “The government shutdown is out of our customers’ control, and we want to assist them in keeping their finances on track while their pay is impacted.”
During the government shutdown, applications for new home loans still are being accepted and processed, and Social Security check deposits should not be affected.
Benefit payments and pensions also should still be functioning normally.
For questions about a Social Security check that is not in relation to the shutdown or other questions about deposit accounts, call customer service at 866-952-9523.