Experts Say Homeowners Exiting Forbearance Will Need Outreach, Assistance
Dec 21 2020, 1:22PM
The
Urban Institute (UI) recently held a webinar with housing experts to look at distress
in the housing market. In a report on the findings, researchers Jung
Hyun Choi and Daniel Pang say that, as of November, 3.7 million homeowners who had
taken advantage of forbearance as the pandemic began have left the programs
while 3.2 million others continue to struggle. About 2.8 million remain in
active forbearance while another 369,000 are delinquent on payments but are not
in plans. Many of those in active forbearance
have reached their sixth month,
requiring them to either leave their plans or