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Mortgage Forbearance Requests Jump almost 2,000%

Mortgage News > Mortgage Forbearance Requests Jump almost 2,000%
Date: 04/07/2020    Mortgage Forbearance Requests Jump almost 2,000%

As millions of homeowners faced COVID-19-realted income loss, requests to delay mortgage payments jumped almost 2,000% by the end of March, according to the Mortgage Bankers Association. During the two weeks between March 2 and March 16, forbearance requests rose 1,270%, and then another 1,896% during the following two weeks ended March 30. That represents a growth from 0.25% of all U.S. mortgages in forbearance in February to 2.66% at the end of last month.

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