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Mortgages in Forbearance Drop Below 3 Million

Mortgage News > Mortgages in Forbearance Drop Below 3 Million
Date: 11/03/2020    Mortgages in Forbearance Drop Below 3 Million

The number of U.S. mortgages paused due to COVID-19-related factors dropped dramatically in October, as the first group to enter forbearance plans finished their six-month duration. According to data firm Black Knight, the number of loans in forbearance sank 18%, or by 649,000 mortgages, last month to a total of 2.97 million. That is the first time in six months that the total has been under 3 million. It also represents 5.6% of all active loans, down from 6.8% in September.

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