What to do when homeowner equity on mortgage properties head towards $10 trillion yet over 9% of homeowners are either in forbearance plans or delinquent, meaning they have no good way of extracting that excess equity? Single family rental outfits like Invitation Homes, American Homes 4 Rent and EasyKnock are bringing to market sale-leaseback products that can help these homeowners as their forbearances start ending early next year. If these options take off, mortgage servicers may see less loss mitigation challenges, but may also lose out on these customers who claw their way back yet are sufficiently impaired that they’re essentially stuck in their mortgages.
No comments:
Post a Comment