Real Estate

Coronavirus mortgage bailouts suddenly swell as homeowners struggle

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Signage stands outside the Freddie Mac headquarters in McLean, Virginia, U.S., on Tuesday, Oct. 1, 2019.

Andrew Harrer | Bloomberg | Getty Images

After declining for three weeks, the number of borrowers delaying their monthly mortgage payments due to the coronavirus rose sharply once again.

The number of active forbearance plans rose by 79,000 in the past week, erasing roughly half of the improvement seen since the peak of May 22, according to Black Knight, a mortgage data and technology firm. By comparison, the number of borrowers in forbearance plans fell by 57,000 the previous week. Increases happened every day for the past five business days.

As of Tuesday, 4.68 million homeowners were…



Source cnbc.com

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