The United States is facing an “avalanche of evictions” due to the expiration of the terms of payment of rent and mortgage. The American housing crisis intensifies amid coronavirus – more than 4 million US residents were unable to pay for housing last month.
In May, 4.3 million homeowners missed their mortgage payments, compared with 2 million at the end of March, Black Knight revealed. As a result, the total level of arrears in May is 8%.
This rate includes borrowers who have agreed to delay or defer payment of a mortgage loan, as well as homeowners who missed payments without protection. Both banks and housing experts are closely monitoring the indicators to find out how many people can lose housing because of the inability to pay debts.
It is noted that 631,000 families delayed payment of mortgages for 90 or more days.