More People are Skipping Housing Payments Now that Protections are Over
December 20, 2021
Early in the COVID-19 pandemic, protections were put into place to help homeowners and tenants who couldn’t keep up with their mortgage and rent payments. Homeowners were allowed to put their mortgages into forbearance and pause payments for up to 18 months, while eviction bans protected tenants who couldn’t pay rent due to job loss or another financial hardship.
But at this point, those protections have largely run out. Some mortgage borrowers may have a little time left on the forbearance clock, but those who paused their loan payments at the start of the COVID-19 crisis may have reached the end of that reprieve.
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