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Coronavirus causes mortgage concerns, but many Americans did not need to pause payments

Usa covid-19 economy Coronavirus
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The Chairman of the Federal Reserve remarked on the negative economic impacts of bankruptcies and continued unemployment. Millions of Americans have put a temporary pause on making their monthly mortgage payments – but a new report shows that many of them may not have necessarily needed to.

Only about five percent of homeowners that were approved for a forbearance agreement actually needed one, according to data from LendingTree.

This group of people said they would not have been able to meet their obligations otherwise. About 26 percent of people said while they could have made monthly payments, they may have had to reduce spending in other essential areas.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
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Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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