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Feature: Rise in arrears and repossessions need not be devastating

Feature: Rise in arrears and repossessions need not be devastating A rise in arrears and repossessions is almost inevitable thanks to the pandemic, but it need not be as devastating as some envisage if flexible policies are put in place, Natalie Thomas discovers By Natalie Thomas 18 th February 2021 1:02 pm Some 2.75 million mortgage payment deferrals have been granted since March last year, but what will happen when the scheme ends this summer? UK Finance figures show that a startling 1.8 million borrowers had a mortgage payment deferral in place at the end of June 2020, equating to one in six borrowers. Since then this figure has reduced considerably, with 130,000 deferrals one in every 84 mortgages in place at the end of December.

Detailed text transcripts for TV channel - CNN - 20110209:12:25:00

so what do you do here and how do you get the taxpayer out of the business of supporting the mortgage market? how big is it? 9 out of 10, 90% of the home loans 90% of all homes in this country mortgages are filtered through the government either through fannie, freddie or from the fha. taxpayers paid to have rescue these two big ones, $100 billion, $200 billion. we have to make sure it doesn t happen again. we have to be careful, though, this is slow it doesn t kill an already very fragile housing market because if you don t have big government help propping up the housing market you could have higher borrowing costs and lower home prices. ed henry confirmed the white house on friday will release a white paper with three kinds of options. one, get out of the mortgage market. get out. two, backstop loans to some degree. three, only backstop loans during periods of so-called market stress. what do fannie and freddie do?

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