Andrew Ackerman
speaker
348 appearances
7 recordings
1 series
first heard Mar 2019
last heard Aug 2022
Andrew Ackerman’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Mortgage Forbearance Safety Net Misses One Million Borrowers · 17 Sep 2020
podcast
They're now no longer in forbearance and they are still past due on their loan.
And it sort of begs the question, we don't know why that's the case.
I haven't been able to find someone situated like that, but that's what the data shows.
We talked to people who had experience during the last crisis in 2008, and there were always people who just the lenders couldn't reach out to.
They knew they were behind.
They thought they were in trouble.
And so they just ducked their servicer at every turn.
And it's speculative, but people think that this population kind of fits into that camp.
And so there are some efforts to reach out to those people.
I would also say that 250,000...
is relatively small there's 53 million mortgages in this country six million people have been on forbearance at some point since the crisis started we're down it's under four million now um most of the people who have exited forbearance
are either performing on their mortgage or they have paid off their loan.
So it's an alarming number.
It's relatively small in the whole mortgage universe.
But there is also a concern that as people kind of hit the six month period who still need help, that the number would increase because they won't know they actually have to request the extension, the additional six months.
Forbearance figures overall spiked in April, May, I believe June, and they've steadily declined since the summer or late summer.
And what will be interesting to watch is whether or not that trend continues or you see more people who need help.
And probably if you see that, you'll see more people kind of falling through the cracks here where they don't know how to get help.
That's sort of based on, I guess, the macroeconomic trends.
Major companies are laying people off, tens of thousands of people.
Showing 201–220 of 348 · page 11 of 18
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