Quote:
Originally Posted by RickFLM4
Quote:
Originally Posted by F32Fleet
Govt checks have kept unemploymed paying rent. Once that stops expect to see an uptick in rentals for sale.
Also, as others have said the COVID forbearance program has suspended mortgage payments for up to one year.
The biggest issue for lenders now revolves around selling mortgage loans which are performing at the time of sale to investors. This can be an issue since some states are moving back to phase 1 which means closing businesses.
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A lot of people stopped paying rent or mortgage even with the government checks or even though they didn't lose their jobs. When gov't put eviction and foreclosure restrictions in place, it seems like quite a few people decided not to pay. So this is a mess ahead that will need to be sorted.
https://www.cnbc.com/2020/06/16/30pe...s-in-june.html |
The take rate on the forbearance program is ridiculously high. There are homeowners who took advantage of the program out of an abundance of caution not because they couldn't afford to make their payment.
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