Fifth Third Bank has their headquarters in Cincinnati, Ohio and is recognized as being one of the largest banks in the Midwest part of the United States. The name originates from back in 1909, when Fifth National Bank and Third National Bank merged. You can find a wide variety of services through this bank, which services many states across the Midwest and the South with over 1,154 branches and 2,469 ATMs across the various areas that they service. Fifth Third Bank is a bank that emphasizes not only the financial services that they offer, but other ways that they are active and contribute to their local communities.
Being noted as one of the top banks in the Midwest, Fifth Third Bank they have built up a solid reputation due to their dedication to their customers. They have come up with an approach to help their loan customers during this unprecedented time. If you are at risk of foreclosure, Fifth Third Bank allows customers to apply for a forbearance for up to 180 days. However, at the end of this forbearance period, you will be required to pay the amount that you missed. You have a few options when it comes to the repayment of your loan after this forbearance period. You could opt to pay the full amount at one time, setup a repayment plan with a customer representative, or ask for an evaluation to get a loan modification. Loan modification options allow you to move any skipped payments to the end of your mortgage.
There are a few things to know about their COVID-19 loan assistance programs. You can extend the period to another 180 days or shorten the period, depending on your specific circumstances. During your forbearance period, you won’t be charged late fees nor will your loan be referred to for foreclosure. You will have interest accrue on your loan. If you’re worried about your credit, this should not have a negative impact on your credit. Your loan will be noted as current, though it will have a notation that states your mortgage loan is currently under forbearance. The bank does not report any missed payments to any consumer reporting agencies while your mortgage is in forbearance. You do need to get in touch with a professional at the bank to get started on the forbearance process, so that you have one less thing to worry about during these difficult times.
To contact Fifth Third Bank, you can check out this page. This page helps you do a variety of things including scheduling an appointment at your local bank, numbers to call the bank and its different departments, sending a message directly from the site, and where to find the closest physical bank location to you. If you don’t want to go to their website, you can call 1-800-972-3030. They are available Monday-Friday from 8am to 6pm EST, Saturdays from 10am to 4pm, and they are closed on Sunday. Fifth Third Bank wants to do what they can to help their customers during these uncertain times.