Mortgage forbearance numbers up due to COVID-19
More Americans are putting their mortgage payments on hold. According to a new survey from the Mortgage Bankers Association, about two million loans were in what’s called “forbearance” the first week of April, meaning borrowers have asked for a temporary break on the payment due.
The emergency aid package Congress passed last month allows many homeowners to delay their mortgage payments for up to a year. As job losses grow, more Americans are requesting that option.
