Skip to main content

Nine in 10 Receive Mortgage Breaks

Navi Persaud
Apr 13, 2020
Money a plant and a stone. Credit: Photo by Katie Harp on Unsplash

The latest report from LendingTree revealed that more than 90 percent of people who asked for a break on their mortgages actually received it. Meanwhile, the survey also showed that some folks don't realize that the option for relief is there.
 
"Reaching out to your lender and asking for help is absolutely, positively worth your time," said LendingTree Chief Credit Analyst Matt Schulz, according to a release.
 
"You may have to endure long hold times, and ultimately, there's no guarantee you'll get your way, but our survey results show that the vast majority of folks who take the time to reach out are getting some help. For folks struggling financially in the wake of this outbreak, that's a big deal. Make the call."
 
The survey showed that one in five people did not know they had the option to secure a relief on payments. Also, men were more successful in securing a break and were also more than twice as likely to ask, according to the report.
 
"Gen Xers had the highest success rate when asking for breaks on both mortgages and credit cards and were the most likely to ask for one on their card payment. Millennials were most likely to ask for a mortgage payment help," according to the report.
 


 
Published
Apr 13, 2020
Rocket Launches Visa Signature Card

Rocket says its first-of-its kind credit card will help clients save on home purchases and homeowners pay off mortgages.

Guild Mortgage Acquires Cherry Creek Mortgage

Terms of purchase not disclosed; reverse mortgage volume added to Guild.

Mar 14, 2023
Vigilance, Dedication, And Commitment Forge Legends

Submit a nomination for Mortgage Banker Magazine’s Legends of Lending.

Mar 10, 2023
FTC Moves To Block Black Knight, ICE Merger

Says it 'would drive up costs, reduce innovation, and reduce lenders’ choices.'

Mar 09, 2023
Rocket Arms Brokers With Bully Shield Vs. UWM

Rocket covers penalties and court fees for brokers who want to get out of United Wholesale Mortgage’s ultimatum contract. 

Feb 06, 2023
Top Texas Originator Sees No Surrender To 2023

Big cities will determine the battle

Jan 26, 2023