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Dana Van Dyk

Find Your Home











Dana Van Dyk

The Olson Agency

1 post tagged with Foreclosures:

April 12, 2021

by Keeping Current Matters

There has been a lot of discussion as to what will happen once the 2.3 million households currently in forbearance no longer have the protection of the program. Some assume there could potentially be millions of foreclosures ready to hit the market. However, there are four reasons that won’t happen.

1. Almost 50% Leave Forbearance Already Caught Up on Payments

According to the Mortgage Bankers Association (MBA), data through March 28 show that 48.9% of homeowners who have already left the program were current on their mortgage payments when they exited.

6% made their monthly payments during their forbearance period7% brought past due payments current6% paid off their loan in full

This doesn’t mean that the over two million still in the plan will exit exactly the same way. It does, however, give us some insight into the . . .

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