by Anthony | Jun 22, 2020 | 2020 Trends, COVID19, Delinquencies, Disruption, NJ Real Estate News
In retrospect, the most lethal effect upon the economy that the pandemic has had may be realized by its effect upon the American shopping mall. The effect is clearly being felt not just upon the shopping habits of the consumer but upon the social infrastructure of...
by Anthony | May 19, 2020 | COVID19, Delinquencies, Foreclosure, Mortgages, Real Estate News
Approximately 4.7 million mortgages are in some stage of forbearance at this point. This represents approximately 8.8% of all home loans. The number of borrowers with secured agreements to delay payments rose from 4.5 million to 4.7 this week. This translates into...
by Anthony | Apr 14, 2020 | Debt, Delinquencies, Foreclosure, Mortgages, New Jersey News, NJ Real Estate News
When JPMorgan Chase announced that it is raising borrowing standards this week for most new home loans as the bank moves to mitigate lending risk stemming from the novel coronavirus disruption, the initial reaction might be concern. Hold on and take a deep breath....
by Anthony | Apr 13, 2020 | COVID19, Delinquencies, Foreclosure, Mortgages, Real Estate News, Recession
The new CARES Act, which President Donald Trump signed March 27, will limit the economic damage resulting from COVID-19. Consequently, requests to delay mortgage payments jumped 1896% for the weeks of March 16-30 as borrowers continue to seek relief during the...
by Anthony | Feb 5, 2020 | Delinquencies, Mortgages
The number of mortgages in some form of delinquency fell by nearly 10% year-over-year according to CoreLogic. The nation’s overall delinquency rate was 3.7% in October; this compares to 4.1% for the prior year period. The current 3.7% level is the lowest recorded in...
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