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Mortgage delinquencies surge by 1.6M in April, the biggest monthly jump ever
Posted on 5/21/20 at 2:15 pm
Posted on 5/21/20 at 2:15 pm
quote:
Delinquencies among borrowers for past-due mortgages are soaring, a sign that Americans are struggling to pay their bills due to a wave of layoffs or lost income from the coronavirus pandemic.
Mortgage delinquencies surged by 1.6 million in April, the largest single-month jump in history, according to a report from Black Knight, a mortgage technology and data provider. The data includes both homeowners past due on mortgage payments who aren’t in forbearance, along with those in forbearance plans and who didn’t make a mortgage payment in April.
At 6.45%, the national delinquency rate nearly doubled from 3.06% in March, the largest single-month increase ever recorded, and nearly three times the prior record for a single month during the height of the financial crisis in late 2008, Black Knight said.
For context, it took more than 18 months before the first 1.6 million homeowners became delinquent during the Great Recession, says Andy Walden, economist and director of market research at Black Knight. And there is still potential for a second wave of delinquencies in May, he added.
LINK
There are 4+ million that are currently in forbearance
My previous thread on forberance
This post was edited on 5/21/20 at 2:18 pm
21
Posted on 5/21/20 at 2:18 pm to stout
Saved a life, tho.
Posted on 5/21/20 at 2:19 pm to Golfer
quote:
Saved a life, tho.
Saved grandma to allow her to die within 6 months from old age anyway.
Posted on 5/21/20 at 2:20 pm to stout
Sounds like a good time to bail the banks out again and leave the taxpayers to pick up the pieces.
Posted on 5/21/20 at 2:22 pm to stout
President Joe Biden said he wouldn't trade one life for a 1 point rise in the stock market too 
Posted on 5/21/20 at 2:25 pm to stout
Those delinquent borrowers should pull themselves up by their bootstraps. Maybe get a second job.
Posted on 5/21/20 at 2:25 pm to The Spleen
quote:
Sounds like a good time to bail the banks out again and leave the taxpayers to pick up the pieces.
This time is different in that the banks don't need bailing out but the people do. The banks and the people were to blame last time which is why bailing them out was met with such outrage. This time they were forced into their current status by Gov overreach.
Posted on 5/21/20 at 2:27 pm to The Spleen
quote:
Sounds like a good time to bail the banks out again and leave the taxpayers to pick up the pieces.
To be fair, the banks (with the pressure from the feds) created the last problem.
The fed and state govts are squarely to blame for this one.
Posted on 5/21/20 at 2:38 pm to stout
So much for the misguided and hopeful proclamations of short-term economic impacts and a speedy recovery.
Posted on 5/21/20 at 2:39 pm to stout
(no message)
This post was edited on 5/21/20 at 2:40 pm
Posted on 5/21/20 at 2:40 pm to Crowknowsbest
quote:
So much for the misguided and hopeful proclamations of short-term economic impacts and a speedy recovery.
WE jUsT NEed tO sHut EvERyTHing DoWn foR tWo WeeKS!
Posted on 5/21/20 at 2:41 pm to upgrayedd
My comment was tongue-in-cheek if that wasn't clear.
Posted on 5/21/20 at 2:41 pm to stout
Stashing cash
This post was edited on 5/21/20 at 2:42 pm
Posted on 5/21/20 at 2:43 pm to Golfer
This shite didn't save a single life.
Posted on 5/21/20 at 2:44 pm to stout
If it saves just one life.
Posted on 5/21/20 at 2:44 pm to stout
The house of cards is just about to collapse. Keep voting Democrat. We are almost there.
Posted on 5/21/20 at 2:47 pm to stout
What will the numbers be when we catch up to Italy in 14 days?
Posted on 5/21/20 at 2:49 pm to Florida225
I swear we have been catching up to where Italy was in early March for months now with no end in sight.
Posted on 5/21/20 at 2:49 pm to stout
Posted on 5/21/20 at 2:55 pm to stout
Here’s what I want to know, we shutdown the entire American economy because “models” and “projections” said if we didn’t hundreds of thousands or maybe even two million people would die.
Why were there no models done projecting what the outcome of such a shutdown would do to the economy and how many lives that would cost?
Why were there no models done projecting what the outcome of such a shutdown would do to the economy and how many lives that would cost?
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