If you need assistance, please call 407-288-5182

Surge in Forbearances This Week

Friday, July 10, 2020   /   by Erik Bjorklund

Surge in Forbearances This Week

After
three weeks of declining totals, Black Knight says the number of active COVID-19
forbearance plans shot up over the past week.
As of June 23, there were 4.68
million homeowners in forbearance, an increase of 79,000 from the prior week.
This surge erased about half of the improvement the company has noted in its
weekly report since forbearance plans peaked during the week of May 22. Forbearance
plans are now in place for 8.8 percent of all active mortgages, up 0.1 point in
a week. These loans have an aggregate balance of $1.025 trillion. FHA
and VA loans posted the largest increase
, 42,000, bringing the total number of
forborne loans to 1.925 million or 12.5 percent of the two portfolios. Among
loans serviced for Fannie Mae and Freddie Mac, 1.925 million or 6.9 percent are
in plans, up 25,000 from the prior week. 

...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Fidelity Home Group | Mortgage News | Mortgage Rates
eXp Realty
Tony Fuentes
1999 W. Colonial Dr
Orlando, FL 32804
407-288-5182

© 2020 My Florida Regional MLS DBA Stellar MLS, Inc.. All rights reserved. The data relating to real estate displayed on this website comes in part from the Internet Data Exchange (IDX) Program of My Florida Regional MLS DBA Stellar MLS, Inc. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers' personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law.10/22/2020 3:03 PM CST
This site powered by CINC: www.cincpro.com