Tag Archives: Mortgage Forbearance

A new Urban Institute report argues that the normalization of forbearances for life occurrences like job loss could keep thousands out of the foreclosure process every year.

For the 16th consecutive month, mortgage delinquencies slid month-over-month in July, however continued inflationary concerns by homeowners is proving increasingly difficult for them to make their monthly mortgage payment.

The mortgage forbearance option in the March 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act  offered relief to millions of homeowners during the COVID-19 pandemic. The 33.4 million with federally backed mortgages can request from their servicers a forbearance plan (with far less documentation of financial hardship than is usually required) allowing them to delay ...

A report found an additional 79,000 loans went into forbearance plans, with servicers needing to pay more than $3 billion in GSE-backed loans.

Tightening mortgage standards are due in part to Fannie Mae and Freddie Mac agreeing to buy loans in forbearance.

Brian Moynihan discussed what his bank is doing to help those impacted by the virus and mortgage forbearance programs.

New guidelines include providing homeowners who have been impacted by COVID-19 with deferred or reduced payments for up to six months.

More homeowners are working with the GSEs to keep their homes, but what’s driving the sudden increase in foreclosure prevention actions?

The bill will provide financial relief for those affected by the 2012 storm.