Nearly three million Americans skipped mortgage payments in past month

Nearly three million Americans skipped mortgage payments in past month

Nearly 6% of all mortgage holders, three million people, have asked for forbearance on their mortgages as of April 12th according to the Mortgage Bankers Association. The federal economic relief package permits homeowners who lose their jobs during the Covid-19 crisis to postpone mortgage payments for 12 months Fannie Mae and Freddie Mac said they would cover the payments after four months.

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