Week of 04/24/2020: 8.9% of All FHA/VA loans are in forbearance
April 26, 2020
- This number will likely increase to over 10% next week, which means by the end of April, 1 FHA/VA mortgage out of 10 will be in forbearance.
- The good news is for now through the end of July, advances from GSE servicers will cover forbearances, but these advances will not include any losses from those advances.
- We will help you navigate the mortgage forbearance process because there are things that you must know before you ask your lender for mortgage forbearance. If you don’t follow, there are consequences on your credit reports that could affect you for years to come.
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