Real Estate

Coronavirus mortgage bailout shrinks further, but bank-held loans are faring worse

0


GeorgePeters | Getty Images

The number of borrowers seeking relief on their mortgage payments has fallen for the third straight week, as more Americans go back to work and cities reopen.

As of June 16, 4.6 million homeowners were in forbearance plans, allowing them to delay their monthly payments for at least three months. This represents 8.7% of all active mortgages, down from 8.8% last week, according to a weekly survey by Black Knight, a mortgage data and technology firm. Together, those loans represent just more than $1 trillion in unpaid principal.  

The numbers are down by 57,000 from last week and by 158,000 from the peak week, May 22.

Broken down by loan type, about 6.8% of all…



Source cnbc.com

Elon Musk tweets Tesla will have to postpone its annual shareholder meeting

Previous article

The stock market is running out of steam with reopening trades fading and economic data ‘uneven’

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Real Estate