Source: Forbes —
At the beginning of the Covid-19 pandemic, massive job loss and record-high unemployment filings were the immediate economic concerns. Then came housing. With the majority of Americans seeing their income drastically reduced, the ability to make mortgage payments was severely at risk.
To counter the immediate problem, the CDC and federal and state governments issued eviction and foreclosure moratoriums to prevent tenants and homeowners from losing the roofs over their heads and buy many Americans time. However, reduced payment plans and forbearance may prove to be a temporary fix to the real issue.
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