Real Estate

Loans in coronavirus mortgage bailouts see largest weekly decline yet

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Signage stands outside the Freddie Mac headquarters in McLean, Virginia, U.S., on Monday, May 11, 2020.

Andrew Harrer | Bloomberg | Getty Images

The number of borrowers in government and private sector coronavirus-related mortgage bailouts just fell by the largest weekly volume since these plans were put in place.

There are, however, warning signs that the programs could swell again.

As of June 30, 4.58 million homeowners were in forbearance plans, according to Black Knight, a mortgage data and technology firm. This represents 8.6% of all active mortgages, down from 8.8% the previous week. Added up, all the loans in forbearance represent just under $1 trillion in unpaid principal ($995…



Source cnbc.com

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