Bloomberg Law
April 24, 2020, 4:20 PM

Homeowners in Forbearance Top 3.4 Million, Up 17% in a Week (1)

John Gittelsohn
John Gittelsohn
Bloomberg News

U.S. homeowners seeking to delay mortgage payments topped 3.4 million, up 17% from a week earlier, as the coronavirus pandemic continued to ravage the economy, according to a report by Black Knight Inc.

About 6.4% of mortgage borrowers have entered forbearance plans since Congress passed legislation in March allowing them to defer payments for initial periods as long as 180 days. The rate jumped from 5.5%, or approximately 2.9 million borrowers, a week earlier, according to Black Knight, a mortgage information service based in Jacksonville, Florida.

“The forbearance numbers are climbing steadily, day by day,” Chief Executive Officer Anthony Jabbour ...

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