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re: Mortgage Delinquencies are Spiking
Posted on 7/16/20 at 3:06 pm to wutangfinancial
Posted on 7/16/20 at 3:06 pm to wutangfinancial
quote:
It will take years for these loans to go through the forebearance process so keep that in mind.
Forebearance is normally 3-6 months. After that foreclosure can go into affect and that can be lengthy but the carnage should start to be known in the fall. Hard to tell how bad it will be.
1
Posted on 7/16/20 at 5:02 pm to Jp1LSU
The housing agencies will extend of the economy is shut down though so that average forebearance processing time is probably irrelevant because this shutdown is unprecedented.
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