Coronavirus: Impacted Mortgages and Sales Surging for Lowe’s


.WE KNOW SO MANY FAMILIES HAVE STRUGGLED TO MAKE THEIR MORTGAGE PAYMENTS DURING THIS PANDEMIC AND NOW WE’RE JUST GETTING A BETTER LOOK AT JUST HOW BAD IT’S GOTTEN FROM A COMPANY THAT MEASURES THE HEALTH OF MORTGAGE LOAN PERFORMANCE. THE COMPANY IS COURT LOGIC AND IT ESTIMATES THAT SERIOUS LOAN DELINQUENCY COULD INCREASE FOURFOLD BY THE SECOND HALF OF 2012 1. BUT A SILVER LINING A CHIEF ECONOMIST FOR THE COMPANY SAYS BOTH THOSE NUMBERS ARE INDEED STARTLING. THE RECOVERY FOR THE INDUSTRY IN FACT COULD PRETTY QUICKLY. WE WERE EXPECTING A REALLY STRONG SPRING HOME BUYING SEASON TYPICALLY WHEN IT’S REALLY PICKUP FOR THE YEAR AND WE PROPOSED FOR FOYT FOYT VERY PRIOR TO THE PANDEMIC BECAUSE OF LOW MORTGAGE RATES AND THE 50 YEAR LOW IN THE UNEMPLOYMENT RATE DURING THE MONTH OF FEBRUARY. BUT NOW SALES ARE DOWN, STARTS ARE DOWN. BUT I DO THINK THEY’RE WELL POISED TO BOUNCE BACK AS SOON AS THE JOBS START COMING BACK AND AS SOON AS THEY SHELTER IN PLACE ORDERS ARE LIFTED. WE DO WANT TO MAKE SURE YOU KNOW THAT IF YOU DID LOSE YOUR JOB DURING THIS TIME YOU COULD BE ELIGIBLE TO HAVE YOUR MORTGAGE PAYMENTS PAUSED OR LOWERED FOR UP TO A YEAR. YOU WANT TO SEE IF YOU QUALIFY WITH YOUR MORTGAGE PROVIDER BUT KEEP IN MIND YOU WILL HAVE TO REPAY ALL PAYMENTS THAT ARE MISSED. WELL, THIS IS A STORY THAT PROBABLY IS NOT GOING TO SURPRISE YOU, ESPECIALLY IF YOU HAD TO PICK UP SOME HOME IMPROVEMENT SUPPLIES OVER THE LAST TWO MONTHS WITH ALL OF THE STAY AT HOME ORDERS, SALES HAVE SURGED AT LOWS. ANALYSTS THOUGHT THAT THE STORE WOULD DO BETTER AND PERHAPS SEE A 3 PERCENT INCREASE IN SALES. BUT

Leave a Reply

Your email address will not be published.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