Nearly 6% of home loans are now in forbearance

The number of mortgages where borrowers are putting off payments has seen a stark increase, according to new data from a financial industry group. For the week ending April 12, 5.95 percent of home loans in servicers’ portfolio volume were in forbearance, up from 3.74 percent the week before that, according to the Mortgage Bankers Association’s latest Forbearance and Call Volume Survey. The group’s survey represents almost 77 percent of the first-mortgage servicing market, or

source https://therealdeal.com/2020/04/20/nearly-6-of-home-loans-enter-forbearance/