Nearly Half of Homeowners in Forbearance Made April Mortgage Payments
The latest data from Black Knight shows that as of May 19, 4.75 million homeowners – or 9.0% of all mortgages – have entered into COVID-19 mortgage forbearance plans. This represents a little over $1 trillion in unpaid principal balances. An estimated 7.1% of all GSE-backed loans and 12.6% of FHA/VA mortgages are now in forbearance.
In addition, of the 4.25 million homeowners who were in forbearance at the end of April, nearly half made April’s payment, while 54% did not.
This publication is for informational purposes only and does not constitute an opinion of MDK.
Do not rely on this publication without seeking legal counsel.
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