Foreclosures Drop, But Concern On The Horizon

The good news is mortgage delinquency rate falls below 6% for first time in nearly a year.  The bad new is 2.1 million homeowners remain seriously delinquent (Black Night)

Recent forbearance and foreclosure moratorium extensions have reduced near-term risk, but at the same time may have the effect of extending the length of the recovery period…At the current rate of improvement, 1.8 million mortgages will still be seriously delinquent at the end of June when foreclosure moratoriums on government-backed loans are currently slated to lift