Millennial homeowners are feeling the financial pain the most during the coronavirus pandemic. GettyThe collapse in business activity during the coronavirus pandemic has elevated levels of concern among struggling homeowners about their ability to make mortgage payments over the next three months, according to a new Bankrate.com report, which found that Millennial homeowners suffering financial hardship are more likely to seek help. The pandemic is causing similar hardship for consumers around the world, and new research indicates Millennials are being challenged the most. Less than half (40%) of concerned borrowers have contacted their lenders to discuss payment relief, with Millennials being the most likely to seek help. “For households struggling financially due to the pandemic, payment relief is available, but you have to ask for it,” said McBride.

Source: Forbes May 06, 2020 12:41 UTC