Nearly one in five Southern California tenants is unable to pay the rent on time and one in seven homeowners in the region missed his or her mortgage payment deadline.
CoreLogic reports 6% of homeowners with a mortgage in Los Angeles and Orange counties were 30 days or more late on their house payments in April, and 7.1% were at least 30-days delinquent in the Inland Empire. That’s up from 2.3% in L.A./O.C. a year ago and up from 3.5% in Riverside and San Bernardino counties.
The Mortgage Bankers Association reports that more than 8% of U.S. homeowners are in “forbearance,” meaning their lender is giving them extra time to pay the mortgage.
With a new round of coronavirus shutdowns going into effect this week — closing malls, gyms and hair salons — and with more people getting unwanted time off from work, hopes for a quick economic recovery are dissipating.
The Southern California News Group wants to know how are you doing? Are you able to pay your mortgage? Are you able to get a forbearance? How is that working out for you?
Please take our short online survey and let us know: CLICK HERE TO TAKE SURVEY.
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July 16, 2020 at 07:10AM
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Are you able to pay your mortgage? Take our survey - Press-Enterprise
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