Wall Street Losses as Accelerate, with the Dow Dropping 700 Points Coronavirus Mortgage Bailouts suddenly Swell as Homeowners Face New Struggles

Wall Street Losses as Accelerate, with the Dow Dropping 700 Points Coronavirus Mortgage Bailouts suddenly Swell as Homeowners Face New Struggles  

The number of active mortgage forbearance plans rose by 79,000 in the past week, erasing roughly half of the improvement seen since the peak of May 22nd.

Increases happened every day for the past five business days. As of Tuesday, 4.68 million homeowners were in forbearance plans, allowing them to delay their mortgage payments for at least three months.

This represents 8.8% of all active mortgages, up from 8.7% last week.