News — RealEstateNews

The federal government’s rush to support homeowners in the wake of the coronavirus pandemic should help many Americans avoid foreclosure, but it could have negative consequences for the mortgage industry. Whether the government steps in to assist the industry could determine whether mortgage companies stay in business — and whether borrowers face even more financial difficulties. The $2.2 trillion CARES Act stimulus bill that President Donald Trump signed into law last month included a provision guaranteeing that any homeowner with a federally-backed mortgage could stop making mortgage payments for up to a year if they face financial hardship because of the COVID-19...