Housing Market Update | Forbearance, Foreclosure and Recession

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The forbearance rate increased last month for the first time in 29 months

The Mortgage Bankers Association (MBA) reported Monday the forbearance rate increased in October after more than two years of declines.

No, it’s not over. Forbearance plans are still alive and well.

As of October 31, there were 350,000 U.S. homeowners in forbearance plans, up from 345,000 at the end of September. That’s 5,000 NEW forbearance plans put in place just last month.

Why is that?

And how will this impact foreclosures hitting the market?

All the answers are in today's video. Enjoy.

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