Mortgage Forbearance Rate Drops 3 Weeks in a Row

Mortgage Forbearance Rate Drops 3 Weeks in a Row
Maurie Backman, The Motley Fool
·4 min read

Mortgage forbearance has been a lifeline for struggling homeowners during the pandemic. Forbearance allows borrowers to pause their mortgage payments without getting flagged as delinquent on their loans, thereby preserving their credit scores and avoiding dire consequences like foreclosure. Originally, mortgage forbearance was slated to last 360 days as part of the CARES Act, the relief bill signed into law in late March 2020.