Real Estate

Mortgage servicers brace for fallout as Covid bailout comes to an end


The nation’s mortgage servicers are gearing up for the biggest wave of delinquent loans since the subprime mortgage crisis, but this time they say they are ready.

The first wave of borrowers to enter the government’s coronavirus mortgage bailout program are entering their last possible quarter for relief, which means that come September they will either have to start paying, sell their homes or go into foreclosure.

Mortgage bailout programs, both government and private sector, launched at the start of the Covid pandemic. The government originally allowed borrowers to delay their monthly payments for up to a year. That was then extended to 18 months. Each quarter, borrowers must re-up.



0 0 votes
Article Rating

Tesla (TSLA) Q2 2021 vehicle production and delivery numbers

Previous article

Ford’s June sales decline by 26.9% as company misses Q2 expectations

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Real Estate