top of page
Search

CFPB Wants to Prevent Foreclosures Until End of the Year

Metro East REIA

A new rule proposed by the Consumer Financial Protection Bureau (CFPB) seeks to prevent a wave of foreclosures as some pandemic protections for homeowners are set to expire. According to CNBC, the rule, which would apply to all mortgages federal & private, will prevent mortgage servicers from initiating a foreclosure against delinquent borrowers through December 31, 2021. The CFPB says 1.7 million borrowers could be at risk of foreclosure when the forbearance program ends in September and this number is higher than anything mortgage servicers have ever seen. The proposed rule will still need final approval. Continue reading HERE...

1 view0 comments

Recent Posts

See All

Foreclosure Starts Increase Slightly

According to the ATTOM Data’s Q1 2024 Foreclosure Report, there were 95,349 with a foreclosure filing during the first quarter of 2024,...

Comments


  • Black Instagram Icon
  • facebook

©2023 by Metro East Real Estate Investors Association.

bottom of page