Thousands could soon lose – or sell – their homes as Covid mortgage bailouts expire. Hundreds of thousands of homeowners could soon lose or sell their homes as Covid-related mortgage bailout programs expire. There are not a lot of options for borrowers who lost too much income or their businesses during the pandemic, although they could take advantage of high equity in their homes and sell.
That has not been the case so far. A data firm found that nearly a third of borrowers who go start the foreclosure process with at least 40% equity in their homes go to foreclosure anyway. “They may have equity, but then it’s a matter of where they going? Where are they going to go? Where are they going to purchase?” said a housing counselor.
https://www.cnbc.com/2021/12/02/covid-mortgage-bailouts-expire-thousands-could-lose-or-sell-homes.html
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