by Anthony | Aug 4, 2020 | COVID19, Debt, Delinquencies, Foreclosure
Black Knight reported on their website that “that the number of loans in forbearance fell by 17K this week, dropping the national forbearance rate to 7.7%. There are now 4.1M loans that remain in active forbearance as of July 28th. While noticeable declines were...
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 | Mar 17, 2020 | Foreclosure, Mortgages, Real Estate News
Mortgage Bankers Association has published a new forecast for 2020 total mortgage originations projecting $2.61 trillion. This represents a 20% increase over 2019 originations. The 20% increase in loan originations include both purchase originations and refinances....
by Anthony | Mar 11, 2020 | Debt, Foreclosure, NJ, NJ Real Estate News
The growth in the debt for seniors represents a precarious situation for older Americans. More seniors risk running short of money in retirement due to their increased likelihood of holding debt, according to a 2018 report published by the Employee Benefit Research...
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