- June 24, 2021
- Posted by: Stratford Team
- Category: Business
Homeowners are finding less of a need for mortgage forbearance, and many are exiting their payment deferral plans. (iStock)
The mortgage forbearance application period set by the federal government will end soon, and more homeowners than ever have started to once again pay their mortgages. After several extensions, the date of June 30, 2021 was set as what’s believed to be the final deadline for payment deferral.
Last week, the number of mortgages in forbearance decreased by 7,000 homeowners from last week, and 117,000 mortgages or 5.4% from last month, according to the latest data provided by Black Knight, a mortgage data and technology company. This brought the number of households in active forbearance plans to 2.06 million, or 3.9% of all homes with a mortgage.
The Mortgage Bankers Association reported similar findings in its weekly survey, showing the number of home loans in forbearance dropped to 3.93% of a sevicer’s portfolio volume,…
