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Pandemic may lead to foreclosure crisis

Source: Kathleen Howley, HousingWire

A surge in the share of mortgages 90 days or more overdue in June is a signal the U.S. could be heading toward a foreclosure crisis, according to a CoreLogic report.

“If there are new government programs, maybe that alleviates some of the risks, but given what we know today, we could be looking at a serious delinquency rate that is four times higher at the end of 2021 as it was before the start of the pandemic,” said Frank Nothaft, CoreLogic’s chief economist.

Read Full Article: Pandemic may lead to foreclosure crisis

 

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