This week the Mortgage Bankers Association’s latest Forbearance and Call Volume Survey revealed that the total number of loans now in forbearance decreased by 26 basis points from 3.76% to 3.50% in a week’s time. 1.75 million homeowners are inContinue Reading
In March 2020 the CARES Act was passed with a financial relief package of $2.2 trillion focusing on providing federal support for those affected by the pandemic. A new program was included in the legislation that was designed to helpContinue Reading
Last updated on April 1st, 2022 at 04:41 pmAs of February 28, 2021, the total number of loans now in forbearance is 5.20% showcasing a drop by 3 basis points from 5.23% of servicers’ portfolio volume in the prior weekContinue Reading
Last updated on May 31st, 2021 at 08:51 amTo pause or reduce their mortgage payments, millions of homeowners have taken the help of forbearance. It is high time to decide the next step as your forbearance period is ending. IfContinue Reading
Last updated on February 22nd, 2021 at 05:09 pmAfter a sharp rise in April and flattening toward the end of May, the number of borrowers in both government and private label mortgage forbearance programs has dropped by 34,000. This isContinue Reading
Last updated on February 2nd, 2021 at 02:07 pmAccording to reports from the Mortgage Bankers Association during the last week of May almost 4.3 million mortgages were in forbearance, representing 8.53% of outstanding home loans. In 3rd week of May, this numberContinue Reading
Last updated on February 2nd, 2021 at 01:53 pmFollowing the coronavirus pandemic, Under the CARES Act, borrowers who are facing hardships as an effect of the pandemic may request that their mortgage payments be suspended for up to 180 days, withContinue Reading
Last updated on February 22nd, 2021 at 02:31 pmNearly half of American families across the country are facing financial hardships during the coronavirus crisis. In response to these financial hardships, the federal government has announced plans that offer relief toContinue Reading
Last updated on December 23rd, 2020 at 10:15 amLoan forbearance—a short-term reduction or suspension of payments in response to a borrower’s temporary hardship—can preserve household income in times of economic difficulty. It also can have significant impacts on your creditContinue Reading
