Costco has ended one of its famous membership perks

COSTCO has ended one of its famous membership benefits – here’s what you can do if you’ve been affected.

The wholesale giant has cut its mortgage program for its members.

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Costco concluded its mortgage program on May 1Credit: Getty

According to the retailer’s website, the changes went into effect on Sunday, May 1.

“Members with questions regarding their current mortgage application and loan should contact the lender they worked with,” the company wrote.

They added a list of lenders and phone numbers.

Costco was affiliated with eight lenders, including Box Home Loans, CrossCountry Mortgage, Lending.com, Mutual of Omaha Mortgage, NASB, NBKC Bank, Real Genius and Strong Home Mortgage.

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The Sun US has contacted Costco for comment.

Costco was not a lead and had no direct role in issuing mortgages, according to Eat this, not that!

He did, however, propose a cap on lending fees related to lending transactions.

It comes as Walmart struck a deal with Lenders One Cooperative in March to lease space in its supermarkets.

Lenders One will soon be able to sell mortgage products and services in Walmart stores.

“Members can benefit from operating ‘store-to-store’ branches, offering mortgage solutions including purchase, refinance and home equity lines to customers,” Lenders One wrote in a statement. Release.

“We now have three locations under lease with many more opportunities to come.”

Justin Demola, President of Lenders One, said in a statement: “I couldn’t be happier with the direction the co-op is taking.

“I am proud of the work the team has done to bring L1 Credit, LOLA and the Walmart opportunity across the finish line; we are already seeing the enormous value these solutions are creating for our members.”

He added, “Our mission is to help members improve their profitability and better compete with larger, well-funded mortgage lenders, and I’m excited to release new, innovative solutions to accomplish that mission.”

It comes as Texas residents who are behind on their mortgages could be eligible for payments of $65,000.

The Texas Homeowner Assistance Fund (TXHAF) program will now provide financial assistance to qualified homeowners in Texas who have fallen behind on their mortgage and other related expenses due to the pandemic.

According to the TXHAF website, the program is administered by the Texas Department of Housing and Community Affairs with funding provided by the Homeowner Assistance Fund under the American Rescue Plan Act of 2021.

TXHAF will provide assistance in the form of grants to pay for delinquent mortgage payments, property taxes, insurance, and HOA fees.

For those who are in arrears on their mortgage, the maximum assistance is $40,000 per household.

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For qualified residents who are behind on property taxes, property insurance, HOA or condo association fees, the maximum assistance is $25,000 per household.

Nearly 15,000 families in Bexar County will be able to raise the funds.

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