The Urban Institute (UI) says the surge in
foreclosures predicted as the COVID-19 pandemic drove unemployment to the
highest level since the Great Depression may not materialize, even when the
current forbearances end. Two UI researchers, Michael Neal and Laurie Goodman,
say that even vulnerable homeowners may be spared, and they think they have identified
the reasons. 
Mortgage
forbearance rates peaked at 8.55 percent of active mortgage in June 2020 and
began to fall when unemployment rates did. Since
October, however, both unemployment and forbearance rates have flattened. This
has heightened concern that many homeowners could face foreclosure later this year.

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