Real Estate

Improvement in Covid-related mortgage bailouts drops with job losses

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Demonstrators march for housing justice in the Old Town neighborhood in Chicago, IL on June 30, 2020, demanding a lift on the Illinois rent control ban and a cancellation of rent and mortgage payments during the COVID-19 pandemic.

Max Herman | NurPhoto | Getty Images

More borrowers are getting current on their mortgages again, after falling behind on payments due to the economic hardships brought on by the coronavirus pandemic. The improvement, however, is slowing dramatically, which could hit the mortgage market harder in the coming months than previously expected.

As of Jan. 5, just over 5% of all mortgages, or 2.74 million, are still in government or private sector Covid-related mortgage…



Source cnbc.com

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