Twelve days ago, the federal government announced a nationwide halt to mortgage foreclosures and evictions for anyone whose loans are currently handled through the federal apparatus, including the Department of Housing and Urban Development or Fannie Mae and Freddie Mac. This moratorium, set to expire in mid-May, covers just over half of the country’s mortgages. But what do the other half do?
Many banks, large and small, are working on a case by case basis to address the problems stemming from the coronavirus pandemic and subsequent economic crisis.
Some banks are giving their borrowers the possibility of a temporary forbearance on their mortgages if they can show that their inability to pay is a direct result of the coronavirus. Goldman Sachs announced that their customers
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