More and more U.S. homeowners aren’t paying their mortgages.
Nearly 3 million U.S. home loans are in forbearance plans that allow delayed payments without penalty, according to a report by
The homeowners skipping payments because of lost jobs or income represent 5.5% of borrowers and have $651 billion in unpaid principal. They break down to 4.9% of loans backed by Fannie Mae and Freddie Mac and 7.6% of loans extended to borrowers through the Veterans Administration and
Mortgage servicers, who are facing a potential liquidity crisis, would need to advance $2.3 billion a ...