Mortgage Industry Says Foreclosures Will Skyrocket In August

Mortgage Industry Warns Foreclosures Will Skyrocket In August If COVID-19 Relief Is Stopped 

mortgage industry

The mortgage industry has been sounding the alarm bells in Washington for several months about extending COVID-19 relief. Now, the Federal Reserve Bank of Atlanta has also joined the orchestra of alarm bells.

The industry is warning that this time the flood of foreclosures will be of biblical proportions. Economists warn foreclosures could surpass the financial crisis of 2008. Economists say there is only one way to stop it. Socialism. That’s right. They want to extend COVID-19 relief efforts. 

The danger of mortgage forbearances turning into foreclosures is becoming very real. The COVID-19 infections surge in the United States.

Read more at MFI-Miami

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