COVID-19 Lending Update


Hello everybody. Barry Wood here.
I just wanted to reach out to you today because, as most of you
know, there’s going to be an order that’s coming out today by
Governor Evers shutting down all non-essential businesses. What
that basically means is that a lot of you watching this video,
as of today, may be temporarily laid off your job. That
may last two weeks, it may last a month, it may last a couple
of months. Unfortunately, nobody knows. But most all of you have
one thing in common, and that is the fact that you have bills
to pay. You have a mortgage payment. You have a car payment,
and other payments that must be paid, but the income is not coming
in. So what do you do? I can tell you this. I spoke to many banks
and many credit unions. There are systems in place that
will allow them to help you and your family through this crisis.
The banks do not want to take your home back. The banks do not
want to take your car back. The banks want to help you and your
family navigate through these tough times. There are a lot
of options out there for people that are experiencing this
kind of stress because of the fact that they lost their job or
they’re temporarily laid off. I have seen banks offer reduced payments;
I have seen interest only payments, and I have seen banks
completely waive payments for customers, depending upon your
situation. Like I said, the last thing banks wanna do is repossess
your collateral. We don’t want your car and your homes.
We want you and your family to be happy and safe. But the trick
is this: if you’re going to be in trouble and you know you’re
not gonna be able to make those payments, the sooner you get
a hold of your bank or credit union, the better. They’re
there to help you, they wanna help you, and they will get you through
this. So don’t be afraid to pick up that phone. As a matter
of fact, if you don’t pick up the phone and let them know, it can
hurt you more than it’s gonna help you. Let them know your
situation. Talk it out. And they will work out a plan that works
best for you and your family, so that you can get through this
trying time. Try not to stress, take care of yourselves,
and do your part, and we’ll all get through this better on the other
end. As always. if you have any questions, please feel
free to reach out to me anytime. I’m always available.
Take care, do your part, and please be safe.

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