(Bloomberg) — The Trump administration is considering a plan to allow homeowners whose income was cut by the coronavirus to delay mortgage payments. Still to be decided is a mechanism for borrowers to catch up.The government also will have to determine how to advance money to mortgage servicers so that investors in mortgage-backed securities get their guaranteed payments. “Tens of billions” in short-term financing may be needed, said Michael Fratantoni, chief economist at the Mortgage Bankers Association.“This is so big,” Fratantoni said. “We’re thinking of the potential of several months of payments for a lot of homeowners.”The White House has …read more
Source:: Yahoo Finance
