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

Biggest Drop yet in Forbearances Brings us Back to April's Levels

Friday, July 10, 2020   /   by Erik Bjorklund

Biggest Drop yet in Forbearances Brings us Back to April's Levels

Black Knight's weekly report on the numbers of
mortgage loans in COVID-19 forbearance plans shows that a decline in those
numbers of nearly a half million last week.
More than 435,000 homeowners exited
the plans, the largest drop yet. As of July 7, 4.14 million homeowners were in the
plans which allow them to skip or reduce their mortgage payments if they are
suffering financial problems due to the pandemic. This represents 7.8 percent of
mortgage lenders and just under $900 billion in unpaid principal. This is the
smallest number of plans since April 28. 
Some 6.0
percent of all GSE-backed loans, 1,678,000 in number,
and 11.6 percent of all FHA/VA loans (1,399,000)
are currently in forbearance plans. Another 1,067,000
or 8.2 percent of loans in private label securities or banks' portfolios
are included in the total.


 

...(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.12/1/2020 5:13 PM CST
This site powered by CINC: www.cincpro.com