More homeowners are choosing to skip their monthly mortgage payments in favor of paying off other debt obligations. A newly-published Fitch Ratings report attributes the reason in part to coronavirus-related government relief programs that provide grace periods for home loans payments. Fitch also said that cash-strapped mortgage borrowers are paying off credit cards and other consumer debt instead because those bills are lower, and have greater short-term consequences. The federal government’s $2 trillion CARES Act
source https://therealdeal.com/2020/08/04/trd-insights-more-homeowners-are-skipping-mortgage-payment-in-favor-of-credit-card-bill/
No comments:
Post a Comment