Mortgage And Student Loan Forbearance During The COVID-19 Pandemic
from the Richmond Fed
– this post authored by Emily Wavering Corcoran and Nick Haltom
In addition to direct financial supports for consumers – including unemployment insurance and economic impact payments – federal and state governments and individual financial institutions have enacted forbearance policies in response to the COVID-19 pandemic.[ 1] Forbearance is a special arrangement that allows borrowers to suspend loan payments for a set period of time. The forbearance policies enacted by the federal government through the coronavirus relief bill (commonly referred to as the CARES Act) addressed two consumer credit products: mortgages and student loans.[ 2]
Source: http://econintersect.com/pages/contributors/contributor.php?post=202009060510
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