Orla McCaffrey
speaker
593 appearances
13 recordings
1 series
first heard Mar 2020
last heard Jun 2022
Orla McCaffrey’s voice in public audio — every appearance, attributed to the second.
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Appearances
touring a home, doing appraisals.
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Those weren't really happening during some lockdowns last spring, but it is expected to get back on track this year and start here in a couple of days, I guess.
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WSJ Your Money Briefing · Struggling Homeowners Remain in Mortgage Forbearance · 25 Jan 2021
podcast
More homeowners are staying in forbearance.
They're asking for extensions and fewer are transitioning out of forbearance.
Fewer are resuming payments.
So ultimately, more people are technically behind on their mortgages.
Thanks for having me.
Yeah, so at the peak, almost 5 million homeowners were signed up back in June, and the share has been declining pretty steadily since then.
And yeah, for a lot of people, it has helped them get back on track.
Some people kept making payments and just used forbearance as kind of
a safety net in case they lost their income.
And largely it has worked out for people who have been in the program so far.
They've been able to transition out and either make up the missed payments, spread them out over the term of their loan or add them onto the back of their loan.
But there's still a group of people in forbearance who have either signed up recently or most of the group is in fact people who signed up last spring and whose financial situations haven't really improved since then.
So the change in forbearance numbers has actually tracked the increase in coronavirus cases pretty well.
When we saw that surge in November that really started our current wave, that's also when we saw the share of homeowners in forbearance, that rate start to kind of stall.
not really move.
And that means that more homeowners are staying in forbearance.
They're asking for extensions and fewer are transitioning out of forbearance.
Fewer are resuming payments.
Showing 361–380 of 593 · page 19 of 30
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