– The CARES Act has had generally positive outcomes, according to CFPB data
– Out of the 5.5 million mortgages that have opted into forbearance, 3.8% have entered into foreclosure
– CARES Act provides protections for homeowners who are facing financial hardship due to the pandemic
– Forbearance options are available for up to a year, and can be extended for an additional 6 months
You can read this full article at: https://www.housingwire.com/articles/most-mortgages-in-forbearance-in-march-2021-are-either-current-now-or-closed-cfpb/(subscription required)
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