#13 REAL ESTATE – Big News On Mortgage Forbearance!
Daniel Lee2021-07-06T21:51:28+00:00Hi everyone, this is Mr Daniel, Hope everyone is doing well! Big news coming out of the Consumer Financial Protection Bureau (CFPB) regarding the mortgage forbearance program rolled out last year since the pandemic. CBS News reports. Of the 3 million behind on their mortgage payments, around 2.1 million are at least 90 days behind. The estimate is about 5% of homeowners are currently delinquent (behind in payments) on their mortgages. Many banks estimated that 10% to 50% of the delinquent loan may become foreclosure and cause a real estate crash. The new ruling from CFPB would block all mortgage service [...]