{"id":5347,"date":"2021-07-20T15:07:10","date_gmt":"2021-07-20T20:07:10","guid":{"rendered":"https:\/\/nwfl4sale.com\/number-of-mortgages-in-forbearance-drops-to-3-5\/"},"modified":"2021-07-20T15:07:10","modified_gmt":"2021-07-20T20:07:10","slug":"number-of-mortgages-in-forbearance-drops-to-3-5","status":"publish","type":"post","link":"https:\/\/nwfl4sale.com\/number-of-mortgages-in-forbearance-drops-to-3-5\/","title":{"rendered":"Number of Mortgages in Forbearance Drops to 3.5%"},"content":{"rendered":"
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Mortgage bankers say that many homeowners are coming out of forbearance, with only 7.4%, so far, either selling the home, doing a refi or otherwise paying off the mortgage. 1 in 4 (23.2%) never stopped making monthly payments; another 1 in 4 (28%) ended up having their loans deferred.<\/span><\/span><\/p>\n<\/div>\n NEW YORK \u2013 The number of homes in forbearance this week (3.5%) dropped again from last week\u2019s numbers (3.76%), according to the Mortgage Bankers Association\u2019s (MBA) latest Forbearance and Call Volume Survey<\/span><\/span><\/p>\n According to MBA\u2019s estimate, 1.75 million homeowners are in forbearance plans.<\/span><\/span><\/p>\n \u201cForbearance exits edged up again last week, and new forbearance requests dropped to their lowest level since last March, leading to the largest weekly drop in the forbearance share since last October and the 20th consecutive week of declines,\u201d says Mike Fratantoni, MBA\u2019s senior vice president and chief economist. <\/span><\/span><\/p>\n \u201cThe forbearance share decreased for every investor and servicer category,\u201d he said, crediting recent economic data that supports \u201cfurther improvements in the forbearance numbers as more homeowners are able to resume their payments.\u201d<\/span><\/span><\/p>\n According to MBA, of all forbearance exits between June 1, 2020, and July 11, 2021:<\/span><\/span><\/p>\nPercentage in forbearance by type of loan<\/span><\/span><\/h3>\n
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Where happened when homeowners came out of forbearance?<\/span><\/span><\/h3>\n
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