Debt Relief And The CARES Act: Which Borrowers Face The Most Financial Strain?
from Liberty Street Economics
– this post authored by Rajashri Chakrabarti, Andrew Haughwout, Donghoon Lee, William Nober, Joelle Scally, and Wilbert van der Klaauw
In yesterday’s post, we studied the expected debt relief from the CARES Act on mortgagors and student debt borrowers. We now turn our attention to the 63 percent of American borrowers who do not have a mortgage or student loan. These borrowers will not directly benefit from the loan forbearance provisions of the CARES Act, although they may be able to receive some types of leniency that many lenders have voluntarily provided.
Source: http://econintersect.com/pages/contributors/contributor.php?post=202008290546
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