Week of 04/30/2020: More than 3.8 million homeowners were in forbearance plans, representing 7.3% of all active mortgages
May 1, 2020
- Applications to the government’s mortgage bailout program have been swelling at a rate of about half a million a week.
- As of Thursday, more than 3.8 million homeowners were in forbearance plans, representing 7.3% of all active mortgages, according to Black Knight, a mortgage data and analytics firm.
- Together, they account for $841 billion in unpaid principal and make up 6.1% of all loans backed by Fannie Mae and Freddie Mac.
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