As a result of the coronavirus (COVID-19) crisis, many people worldwide faced job insecurity and loss of income. For mortgage borrowers in the United States, this means increased default and foreclosure risk. Forbearance is a type of borrower assistance which allows the lender to negotiate a temporary postponement of a mortgage repayment. It allows a payment period relief in lieu of the creditor foreclosing on any property that was used as collateral for the loan.

As of March 2022, New York was one of the states in the United States with highest forbearance rate for Freddie Mac single-family housing loans with approximately **** percent of current loans in forbearance.

As of August 2021, the forbearance rate of single-family housing mortgages owned by Freddie Mac in the U.S. was approximately **** percent. Forbearance is a type of borrower assistance which allows the lender to negotiate a temporary postponement of a mortgage repayment. It allows a payment period relief in lieu of the creditor foreclosing on any property that was used as collateral for the loan.

As of August 2021, the forbearance rate of single-family housing mortgages for investment purposes in the United States was **** percent. Second home mortgages were least affected with *** percent forbearance rate. Forbearance is a type of borrower assistance which allows the lender to negotiate a temporary postponement of a mortgage repayment. It allows a payment period relief in lieu of the creditor foreclosing on any property that was used as collateral for the loan.

Due to the impact of the COVID-19 pandemic, the U.S government paused payments on federal student loans starting on March 13, 2020, moving billions of dollars of student debt into forbearance. Forbearance means that no payments need to be made, with the interest rate set to zero percent. In the second quarter of 2022 and 2023, the majority of federal student loans remained in forbearance, totaling over 1000 billion U.S. dollars. However, loan repayments and interest rates restarted in October 2023, lowering the amount of student loans in forbearance to **** billion U.S. dollars as of Q2 2024.

Due to the impact of the ******** pandemic, starting on **************, the U.S. federal government paused payments on federal student loans, moving billions of dollars of student debt into forbearance. Federal student loans are in forbearance, meaning that no payments need to be made, and the interest rate has been set to zero percent until ******************. Because of this, student loan delinquencies also decreased, with the largest percent change experienced by accounts that are ** to *** days past due, with a ** percent decrease in delinquencies.