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Pandemic Throwing Millions into Rent, Mortgage, and Student Loan Peril

Posted To: MND NewsWire

The pandemic is endangering the credit histories of at least 30 million Americans and possibly threatening the shelter status of many of them. The Mortgage Bankers Associations’ (MBA’s) Research Institute for Housing America (RIHA) said on Friday that over 6 million households missed making rent or mortgage payments in September and 26 million individuals did not make payments on their student loans. The number of missed payments for rent and mortgage payments did decline slightly from the second quarter but 2.82 million households failed to pay their rent on time and in full in September while 3.37 million homeowners missed, delayed, or made a reduced mortgage payment. These numbers represent 8.5 percent of the renter population and 7.1 percent of homeowners. The share of student debt borrowers…(read more)

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