ORIGINAL: Cap Mandrake
ORIGINAL: MakeeLearn
Mortgage bailouts grow as more owners delay payments
51 mins ago
https://www.msn.com/en-us/money/realest ... li=BBnb7Kz
"The numbers have been swelling at the rate of about half a million a week.
As of April 30, more than 3.8 million homeowners were in forbearance plans, representing 7.3% of all active mortgages, according to Black Knight, a mortgage data and analytics firm. Together, they account for $841 billion in unpaid principal and make up 6.1% of all GSE-backed loans (Fannie Mae and Freddie Mac) and 10.5% of all FHA/VA loans."
Oh, crap. 7% of all mortgages late? That sounds bad.
I don't think this is 'all that and a bag of peanuts'. Yet. Almost *all* major mortgage service and lender organizations have provided for mortgage payment delays due to COVID-19. I reckon that the vast majority of those that accept this temporary provision are doing so out of household cashflow convenience rather than a pathway suggesting imminent default. We've seen the same sorts of programs periodically in regions hit by hurricanes, tornadoes or other natural disasters-they almost always reverse when the dust clears.



lol.








