Posted in home improvement loans

Coronavirus mortgage bailouts fall below 3 million

The number of mortgages in active pandemic-related bailouts plunged in the past week as the first wave of forbearance plans hit the end of their six-month term.

It was the largest decline since the crisis began.

Over the past week, active forbearances dropped by 649,000, or 18%, according to Black Knight, a mortgage technology and data analytics firm. That brings the total number of plans, both government and private sector, below 3 million for the first time since April. In addition, the decline was noticeably larger than the drop of 435,000 when the first wave of forbearances hit the three-month mark in early July.

As of Oct. 6, 2.97 million homeowners remain in pandemic-related forbearance plans, or 5.6% of all active mortgages, down from 6.8% the previous week. The loans represent collectively $614 billion in unpaid principal.

These plans allow borrowers to delay their monthly payments for at least 30

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Continue Reading Coronavirus mortgage bailouts fall below 3 million
Posted in home improvement loans

Coronavirus mortgage bailouts fall below 3 million in pandemic’s sharpest decline

  • The number of mortgages in active pandemic-related bailouts plunged as the first wave of forbearance plans hit the end of their six-month term.
  • Over the past week, active forbearances dropped by 649,000, or 18%, according to Black Knight, a mortgage technology and data analytics firm.
  • That brings the total number of plans below 3 million for the first time since April.
  • As of Oct. 6, 2.97 million homeowners remain in pandemic-related forbearance plans, or 5.6% of all active mortgages, down from 6.8% the previous week.



a large brick building with grass in front of a house: Prospective home buyers arrive with a realtor to a house for sale in Dunlap, Illinois.


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Prospective home buyers arrive with a realtor to a house for sale in Dunlap, Illinois.

The number of mortgages in active pandemic-related bailouts plunged in the past week as the first wave of forbearance plans hit the end of their six-month term.

It was the largest decline since the crisis began.

Over the past week, active forbearances dropped by 649,000, or

Read More
Continue Reading Coronavirus mortgage bailouts fall below 3 million in pandemic’s sharpest decline