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Payment Deferral

Payment Deferral

 

LorMet is committed to serving the needs of the Lorain County community throughout these difficult times, keeping drive-ups open during regular business hours along with our call center. We realize many of our members may be laid off or temporarily out of work. For these circumstances, LorMet created a Payment Deferral program for members, which may extend your loan payment for 60 days to help those negatively financially impacted by COVID-19. A completed application and documentation of a change in employment status or income reduction is required for this program. This program is designed to assist those financially impacted by COVID-19.

 

Here’s how it works:

  • Complete and sign the Payment Deferral Request Form on the bottom of this page.
  • Send your completed form and change in employment documentation to paymentdefer@lormet.com or fax to 440-960-6684.
  • No fee required.

 

If your application is accepted, we will move your loan date forward by two months. Interest on your loan will continue to accrue at the rate originally stated, and the maturity date on the loan will be extended. Your normal payment schedule resumes 60 days after acceptance.

 

APPLY HERE