Real Estate

Coronavirus mortgage bailouts improve slightly

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After holding flat for a couple of weeks, the number of borrowers in public and private coronavirus-related mortgage bailout programs saw a much bigger improvement than expected.

Most still in getting aide, however, have extended their terms, suggesting they are still unable to get current on their home loans. 

The number of mortgages in active forbearance plans dropped by 147,000, or 4%, over just the past week, according to Black Knight, a mortgage technology and data provider.

About a quarter of a million borrowers were seeing their three-month terms expire at the end of August, far fewer than expired at the end of June. Still, this is the biggest drop since that first expiration…



Source cnbc.com

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