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Coronavirus mortgage bailout: 'There is going to be complete chaos,' says industry CEO
Coronavirus mortgage bailout: 'There is going to be complete chaos,' says industry CEO
Published Mon, Apr 6 202011:05 AM EDTUpdated Mon, Apr 6 20203:22 PM EDT Diana Olick
The U.S. mortgage industry faces collapse once again, this time due to the economic consequences following the coronavirus outbreak and massive job losses. Up to 50% of borrowers could default on their mortgage payments, according to industry estimates. Since the stimulus bill signed by President Donald Trump provides relief for homeowners but does not provide relief for the mortgage industry, companies are worried they may go out of business.
US Mortgage Industry Could Collapse as Housing Crisis Looms, Experts Say
"...there’s an obvious contest that’s happening between different sectors of the colonial ruling class in this country. And they would, if they could, lump us into their beef, their struggle." ---- Omali Yeshitela, African People’s Socialist Party
(My posts are not intended as advice or professional assessments of any kind.) Never forget Excalibur.
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