Who could have predicted a year ago how the coronavirus (COVID-19) global pandemic would cause such social and economic uncertainty?

According to our recent economic forecast, the housing market faces its greatest challenge in over a decade as large swaths of the U.S. economy shut down to battle the COVID-19 pandemic.

Most homeowners spend months researching and preparing for the homebuying process, and there’s plenty of information out there to help them with that search. When faced with an unexpected crisis, it’s much harder to plan for the unexpected while finding out what mortgage relief options are out there.

Servicers are on the front lines are fielding their questions about forbearance and what relief options are available after forbearance – including the new COVID-19 Payment Deferral. Kevin Palmer, senior vice president of Portfolio Management, talks about a new relief solution in this HousingWire article.