Few Homeowners in Forbearance in April; Number Expected to Grow

The Mortgage Bankers Association surveyed the U.S. home mortgage servicing market for indications about how the nation's 26.9 million home loans were holding up during the first weeks of the pandemic.

1 minute read

April 15, 2020, 9:00 AM PDT

By James Brasuell @CasualBrasuell


COVID-19

Erin Alexis Randolph / Shutterstock

"So far the number of U.S. homeowners seeking payment forbearance because of the pandemic remains small," reports Steve Brown, sharing data released by the Mortgage Bankers Association this week.

"Only 3.74% of home loans across the country were in forbearance as of April 5," explains Brown. "But the share of Americans seeking relief from their mortgage payments is likely to grow the longer the economy is shut down due to the COVID-19 pandemic."

The article includes more details about the state of the mortgage finance market as the economic effects of the coronavirus pandemic deepen around the country. 

Reports released last week, by the National Multifamily Housing Council and Apartment List estimated the share of residential renters not paying rent in April at a third and a quarter, respectively.

Monday, April 13, 2020 in The Dallas Morning News

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