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Related: About this forumThis hard truth about the mortgage markets isn't being told
(Market Watch) Everyone wants to know what impact the coronavirus and the government response to it will have on housing markets. While it is too early to hazard a guess, some things are becoming increasingly clear.
Already, it looks as if the U.S. is moving towards a temporary moratorium on mortgage payments. Fannie Mae and Freddie Mac unveiled an emergency program which provides a two-month deferral of mortgage payments for any homeowner who claims to be facing a hardship because of the virus. The payments will be tacked on at the end of the mortgage term.
....(snip)....
It is not much of a stretch to say that this virus has changed everything. Many of you may sense that the virus has undermined what you thought was still a fairly strong housing market around the country.
In truth, the so-called housing recovery since 2010 has been little more than a carefully constructed illusion. The belief in a strong housing recovery was carefully devised using a strategy of misleading information, withheld data and false impressions. .......(more)
https://www.marketwatch.com/story/heres-the-hard-truth-about-the-mortgage-markets-that-isnt-being-told-2020-04-02?mod=home-page
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This hard truth about the mortgage markets isn't being told (Original Post)
marmar
Apr 2020
OP
no_hypocrisy
(46,122 posts)1. How will this crisis affect financing the purchase of homes?
Buyers will continue to apply for mortgages. Will they have to pay mortgages while existing mortgagors get suspensions?
Wellstone ruled
(34,661 posts)2. Home Sales in our area
are worse than dead. By the end of May,my fear is the Repo Man will be busy.
pansypoo53219
(20,981 posts)3. everything should be set on pause.