US home-mortgage delinquencies surge to the highest level in 9 years

  • By user
  • June 22, 2020
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The number of US home mortgage delinquencies has surged to the highest level in nine years as the coronavirus pandemic continues to hit family finances. 

Total borrowers more than 30 days late surged to 4.3 million in May after a record jump to 3.4 million in April, according to a Monday report from Black Knight. In addition, more than 8% of all US mortgages were either past due or in foreclosure, the report showed. 

The report also included homeowners that missed payments even though they had forbearance agreements in place, which allow six months of deferral without penalty.

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