Tag Archive for: mortgage forbearance

What Happened to ALL Those Borrowers in “Forbearance?”

There were approximately 4.5 million mortgages in forbearance when the number peaked during the COVID crisis in 2020. This scared the bejeebers out of a lot of market-watchers, as they feared it portended another massive foreclosure crisis (like we saw after the 2008 meltdown, which collapsed the market). BUT – not so much. WHAT IS […]Read More

5 Major COVID Effects After One Year; Way Hotter Housing Market – WHY?

It was one year ago this month that the World Health Organization declared that the “Coronavirus” (old-fashioned name for COVID) was a “pandemic.” And holy smokes has the world changed (understatement of the year). Here are some of COVID’s major effects on the Real Estate and Mortgage Industries: 1. INTEREST RATES Even though rates have […]Read More

2.7 Million Borrowers Still In Forbearance; Foreclosure Crisis Coming?

The WSJ reported recently that 2.7 million borrowers are still in forbearance. That is about 5.5% of all borrowers, down from about 8.5% in June, but the number of borrowers in forbearance is no longer falling and many market-watchers are nervous. A weakening economy is exacerbating concerns, as retail sales have been falling, employers have […]Read More

Refinancing After Forbearance; Credit Inquiries

Over 4 million borrowers went into mortgage payment “forbearance” during the COVID-19 crisis, and many are now starting to end their forbearance periods – and wondering if they can refinance. Here are some of the guidelines. AUTHORIZED FORBEARANCE – PAST BALANCES PAID If borrowers with a formally authorized (by their servicer) forbearance formally end their […]Read More