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The Foreclosure Crisis Waiting in January
Although homeowners have so far accessed financial relief from the pandemic much more easily than renters, housing counselors are bracing for a foreclosure crisis as forbearance terms start to end. December 28, 2020, 9am PST | LM Ortiz Share
When Nora Hertel’s husband lost his job working at a small, private school for kids with special needs earlier this year due to the pandemic, their two-income household was instantly scaled down to one. Hertel, a marketing communications specialist at NCALL Research Inc., says she and her husband initially paid their mortgage with money from savings. As months passed, however, the couple started to miss their 15-day grace period and receive penalties.