As of August 25, 3.9 million homeowners were in mortgage forbearance programs, according to Black Knight, a mortgage technology and analytics firm. This represents 7.4% of all active mortgages and is unchanged from the week before. The numbers have not improved in the past two weeks.
"The extremely high rate of initial claims for unemployment insurance and high level of unemployment remain a concern, and are indications of the challenges many households are facing," said Mike Fratantoni, MBA's chief economist. "While new forbearance requests remain low, particularly for Fannie Mae and Freddie Mac loans, the pace of exits from forbearance has declined for two straight weeks.
The mortgage bailout, under the CARES Act, allows borrowers to delay monthly payments for up to a year on government-backed loans. Banks and private-label securities have largely offered about six months of forbearance, but it is unclear how much longer they will extend that.
SpeakerPelosi's war against America is taking its toll. Do people need a place to live or A single all powerful federal government more?
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If the Democrats would get off their ass and start doing something for America we wouldn't have these problems this is all caused by the Democratic party
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