Democratic Reps Seek To Cancel Mortgage, Rent

Democratic Reps Seek To Cancel Mortgage, Rent

ByTMN Editor Reading Time: 3 minutes

Rep. Ilhan Omar has proposed legislation in Congress that would cancel rent and mortgage payments for the entirety of the coronavirus pandemic, under the threat of seizing property from landlords who run afoul of the proposed law. The Rent and Mortgage Cancellation Act of 2020 would suspend all rent and mortgage payments on primary residences, regardless of…

Share Of Mortgages In Forbearance Jumps To 5.95%

Share Of Mortgages In Forbearance Jumps To 5.95%

ByTMN Editor Reading Time: 2 minutes

By Jim Perskie The number of loans in forbearance continues to rise, with nearly 6 percent of all mortgages in pause as borrowers cope with economic hardship caused by the coronavirus pandemic. The share of loans in forbearance climbed from 3.74 percent to 5.95 percent as of April 12, according to the Mortgage Bankers Association’s…

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