Jul, 2021
COVID-19 Housing Protections: Mortgage Forbearance and Other Federal Efforts Have Reduced Default and Foreclosure Risks, Report to Congressional Committees
United States. Government Accountability Office
From the Highlights: "Millions of mortgage borrowers continue to experience financial challenges and potential housing instability during the COVID-19 [coronavirus disease 2019] pandemic. To address these concerns, Congress, federal agencies, and the enterprises provided borrowers with options to temporarily suspend their mortgage payments and placed a moratorium on foreclosures. Both provisions begin to expire in the coming months. The CARES [Coronavirus Aid, Relief, and Economic Security] Act includes a provision for GAO [Government Accountability Office] to monitor federal efforts related to COVID-19. This report examines (1) the extent to which mortgage forbearance may have contributed to housing stability during the pandemic, (2) federal efforts to promote awareness of forbearance among delinquent borrowers, and (3) federal efforts to limit mortgage default and foreclosure risks after federal mortgage forbearance and foreclosure protections expire."
    Details
  • URL
  • Publisher
    United States. Government Accountability Office
  • Report Number
    GAO-21-554
  • Date
    Jul, 2021
  • Copyright
    Public Domain
  • Retrieved From
    Government Accountability Office: www.gao.gov/
  • Format
    pdf
  • Media Type
    application/pdf
  • Subjects
    COVID-19 (Disease)
    Housing policy
    Mortgage loans
  • Resource Groups
    Coronavirus Disease (COVID-19)
    Reports (GAO)
  • Series
    COVID 19 Resources
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