Today’s News Synopsis:

Need cash?  Get a HELOC right? Black Knight Financial Services reported over 2.9 million mortgages are in forbearance.  Realtor.com gives an update on how long the home closing process could take in the midst of the pandemic.

In The News:

Mortgage Professional America – “More than 2.9 million mortgages in forbearance – Black Knight” (4-20-2020)

“More than 2.9 million mortgages are in forbearance – 5.5% of all mortgages in the US, according to a new report by Black Knight.”

HousingWire – “These markets could see the sharpest drop in home prices during coronavirus pandemic” (4-20-2020)

“Under normal circumstances, people can access a free credit report once per year from each of the three main credit reporting agencies: Equifax, Experian and TransUnion.”

Freddie Mac – “Understanding Forbearance During COVID-19” (4-20-2020)

“One of the most common mortgage relief options is forbearance, which is offered through your loan servicer (the company listed on your mortgage statement).”

Fannie Mae – “COVID-19 Foreclosure Prevention Fraud and Other Scams” (4-20-2020)

“During this time of crisis and hardship, scammers seize the opportunity to prey on consumers. Fraudsters are known to contact homeowners offering financial relief – including options to prevent foreclosure or eviction – in an attempt to steal personal information, money, or other property.”

California Association of Realtors – “Coronavirus (COVID-19) Updates” (4-20-2020)

“C.A.R. encourages all members to stay up to date on the outbreak of the novel coronavirus COVID-19, which is currently sweeping the globe. We will be updating this website regularly with information on C.A.R. events, market implications and advice for California REALTORS®, home buyers, home sellers and renters.”

Money – “Millions of Americans Need Cash — But Borrowing Against Your Home Is Getting Tougher” (4-20-2020)

“With the U.S, economy shut down, and millions unemployed, now might seem like the perfect time to tap your home for emergency cash. But it’s not as simple as it looks”

Realtor.com – “The Home Closing Process Amid Coronavirus: The Seller’s Guide to How Long Will It Take” (4-20-2020)

“Selling your home during the coronavirus outbreak is no easy task. So if you’ve managed to find a buyer and accept an offer despite these challenging times, congratulations! You’re almost there. All that’s left is to close the deal.”

Realtor Magazine – “How to Practice Mindfulness in Real Estate” (4-20-2020)

“Being more mindful through words and actions can alleviate stress and promote a healthier work environment. Learn fundamentals for greater self-awareness and six tips for using mindfulness skills in your business.”