This week we continue to explore what the spring will bring for homebuyers and how the coronavirus recovery might affect current homeowners. These prevailing trends remain key to understanding the current mortgage and real estate markets.
1. CFPB doesn’t want forbearance to end in foreclosure
More than 2.5 million homeowners have mortgages in forbearance currently, and the Consumer Financial Protection Bureau is determined to get lenders to give them a way out of it that doesn’t involve being forced out of their homes. The regulator issued guidance to institutions on Thursday about proactive steps they’ll need to take in order to ward off a “tidal wave” of foreclosures.