“There is a tidal wave of distressed homeowners who will need help from their mortgage servicers in the coming months.”
WASHINGTON, D.C. – 1 April 2021 – The Consumer Financial Protection Bureau (CFPB) today warned mortgage servicers to take all necessary steps now to prevent a wave of avoidable foreclosures this fall. Millions of homeowners currently in forbearance will need help from their servicers when the pandemic-related federal emergency mortgage protections expire this summer and fall. Servicers should dedicate sufficient resources and staff now to ensure they are prepared for a surge in borrowers needing help.
CFPB Warns of Tidal Wave of Foreclosures this Fall
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