Over 4 million Americans are now skipping their mortgage payments

Fewer Americans are calling their mortgage servicers to ask for relief from mortgage payments, but the housing industry isn’t out of the woods yet.

While mortgage servicers are still facing stress because of the record deluge of requests for payment relief, signs suggest that homeowners’ prospects have improved as parts of the country have begun to emerge from coronavirus stay-at-home orders. “There has been a pronounced flattening in loans put into forbearance — despite April’s uniformly negative economic data, remarkably high unemployment, and it now being past May payment due dates,” Mike Fratantoni, chief economist for the Mortgage Bankers Association, said in the report.The potential exception to this trend is the segment of the market for loans backed by Ginnie Mae, including Federal Housing Administration and Veterans Affairs loans.

So?

HOLY SHIT!

Interest only payments and tacking the principal on the back end of the mortgage. A solution for all banks and holders of mortgages.

Great home buying opportunities soon upon us!

Brett

Very bullish

for god sakes not again 🙄

BillOllman 👀

What was the % at this time last year?

AirBnb

No Worries!! Just print up some money for them to pay with. - JIC, buy up all the mortgages at par.

FED is bailing out bankers while some people will loose their houses that will be picked up for pennies on dollar by hedge funds with money from the FED. Those people will vote same politicians that protect this scheme & will wonder why inequality is growing.

BIG number: praying this is not a repeat of 2008...

Lockdowns have consequences

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