Forbearance rate of housing loans the U.S. 2021, by tenure
As a result of the coronavirus (COVID-19) crisis, many people worldwide face job insecurity and loss of income. For mortgage borrowers in the United States, this means increased default and foreclosure risk. As of August 2021, the forbearance rate of single-family housing mortgages for investment purposes in the United States was 2.63 percent. Second home mortgages were least affected with 1.1 percent forbearance rate. Forbearance is a type of borrower assistance which allows the lender to negotiate a temporary postponement of a mortgage repayment. It allows a payment period relief in lieu of the creditor foreclosing on any property that was used as collateral for the loan.
