Mortgage Delinquencies Hit Highest Levels Since 2011

▤ Summary

An additional 723,000 homeowners were past due on mortgage payments in May, bringing the national delinquency rate to its highest level since 2011, according to the latest report from Black Knight . That being said, payment numbers for June are indicating that the rise in delinquencies could be leveling off. Currently, there are 4.3 million homeowners past due on their mortgages or in active foreclosure, including those in forbearance who have missed scheduled payments as part of their plans. State shutdowns caused a rise in unemployment and forced folks to enter forbearance agreements on their mortgages. If states are forced back into lockdown, the reported progress that has been made in June could revert to previous numbers.

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