As a result of the coronavirus (COVID-19) crisis, many people worldwide face job insecurity and loss of income. For mortgage borrowers in the United States, this means increased default and foreclosure risk. As of August 2021, the forbearance rate of single-family housing mortgages for investment purposes in the United States was 2.63 percent. Second home mortgages were least affected with 1.1 percent forbearance rate. Forbearance is a type of borrower assistance which allows the lender to negotiate a temporary postponement of a mortgage repayment. It allows a payment period relief in lieu of the creditor foreclosing on any property that was used as collateral for the loan.
Forbearance rate of Freddie Mac single-family housing mortgages in the United States as of August 2021, by occupancy
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Statistics
Freddie Mac. (September 8, 2021). Forbearance rate of Freddie Mac single-family housing mortgages in the United States as of August 2021, by occupancy [Graph]. In Statista. Retrieved May 15, 2024, from https://www.statista.com/statistics/1200722/mortgage-forbearance-rate-united-states-usa-by-occupancy/
Freddie Mac. "Forbearance rate of Freddie Mac single-family housing mortgages in the United States as of August 2021, by occupancy." Chart. September 8, 2021. Statista. Accessed May 15, 2024. https://www.statista.com/statistics/1200722/mortgage-forbearance-rate-united-states-usa-by-occupancy/
Freddie Mac. (2021). Forbearance rate of Freddie Mac single-family housing mortgages in the United States as of August 2021, by occupancy. Statista. Statista Inc.. Accessed: May 15, 2024. https://www.statista.com/statistics/1200722/mortgage-forbearance-rate-united-states-usa-by-occupancy/
Freddie Mac. "Forbearance Rate of Freddie Mac Single-family Housing Mortgages in The United States as of August 2021, by Occupancy." Statista, Statista Inc., 8 Sep 2021, https://www.statista.com/statistics/1200722/mortgage-forbearance-rate-united-states-usa-by-occupancy/
Freddie Mac, Forbearance rate of Freddie Mac single-family housing mortgages in the United States as of August 2021, by occupancy Statista, https://www.statista.com/statistics/1200722/mortgage-forbearance-rate-united-states-usa-by-occupancy/ (last visited May 15, 2024)
Forbearance rate of Freddie Mac single-family housing mortgages in the United States as of August 2021, by occupancy [Graph], Freddie Mac, September 8, 2021. [Online]. Available: https://www.statista.com/statistics/1200722/mortgage-forbearance-rate-united-states-usa-by-occupancy/