Low-income communities and communities of color are among the most impacted, the Bureau found. A May study found that borrowers in majority-Black or -Hispanic communities were more likely to be in forbearance and to be delinquent than those in majority-White communities. Though Black and Hispanic borrowers make up about a fifth of mortgage borrowers, they amount to a third of those in forbearance and just over a quarter of delinquencies. The same was true of low-income census tracks, where over a third of delinquent borrowers were in the lowest quarter of the income bracket.

Source: Washington Post August 01, 2021 12:56 UTC