Skip to main content

Close To Half Of All Americans Missed Rent Or Mortgage Payments

Navi Persaud
Mar 11, 2021
Photo of a woman looking worried while paying her bills.

A report from GOBankingRates explored how U.S. renters and homeowners fared during the COVID-19 pandemic as the one-year mark approaches. The report found that nearly half of all Americans missed rent or mortgage payments during the pandemic.

Americans all across the country have had to deal with numerous financial pressures brought upon by the pandemic. These common issues include losing a job, sacrificing careers for childcare, covering health expenses, pivoting businesses to stay afloat and much more, according to the report. Maintaining daily and monthly expenses like rent or mortgage payments have even become an intense struggle. GOBankingRates' survey has found that 46% of Americans missed one or more rent/mortgage payments and that 25% have missed more than one.

The report also revealed that 48% of men missed one payment compared to 45% of women. GOBankingRates attributes these missed payments to the 22% of Americans who lost their jobs during the pandemic and are still unemployed.

"Those who are in the entry-level jobs at most companies are usually seen as the most dispensable, so the logic follows that if they were let go at the beginning of the pandemic, they would also in most cases be the last to be rehired," said GOBankingRates associate researcher Julia O'Brien.

Click here to read more from the report. 

Mar 11, 2021
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021
Gateway Mortgage Surpasses 165 Mortgage Centers With 10 New Additions

Gateway Mortgage reported significant growth in the company, prompting it to open 10 new locations across Colorado, Idaho, Oklahoma, Texas, Oregon, and Wyoming.

Industry News
Jul 30, 2021
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Jul 29, 2021
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021