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MORTGAGE INDUSTRY:PART II
October 12th, 2020 6:30 PM
In the onset of the COVID-19 recession the government reacted quickly and aggressively. Jobless workers received $600 a week on top of their state unemployment benefits and the terms of forbearance were generous. Homeowners can stop making mortgage payments for up to a year with no penalties. Lenders are positioning for a more cooperative, less punitive approach.
During the Great Depression, 2009-2010, the federal government's slow reaction exacerbated that crisis but now we are faced with unemployment falling, should the federal government add another payment to those who remain jobless. 
Politics may prevent any decision since the election is only a few weeks away.


Posted by Richard Wayne Abatelli on October 12th, 2020 6:30 PMPost a Comment

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