A summer of mortgage payment shortfalls

Requests for mortgage payment assistance rose throughout the summer of 2020. We compared requests received by 2-1-1s during the first eight months of 2020 (orange line on the chart) with the same dates in 2019 (blue line). In 2020, requests spiked as the COVID-19 pandemic began in March. At its peak, 2020 rates were over four-fold higher than the same date in 2019. After retreating in April and May, requests have been on a steady climb, with August requests up to two times higher than in 2019. Overall, requests for mortgage assistance during the pandemic are 122% higher than the same dates the prior year. The chart also shows key dates related to the CARES Act. Mouse over each line to see the 7-day moving average number of requests each day. Analyses included 2-1-1s participating in a daily tracking system during both 2019 and 2020, which included: AL, AR, CA, CT, DE, FL, HI, IA, IL, KS, KY, MA, MD, ME, MN, MO, NC, NE, NJ, NV, NY, PA, SC, SD, TN, WI and WY. Web search data were excluded from analyses.

Leave a Reply

Your email address will not be published. Required fields are marked *