Economics
Mortgage Defaults Could Pile Up at Pace That Dwarfs 2008
- Reprieve gives temporary help to desperate U.S. homeowners
- Borrowers hurt by pandemic can ask to delay up to six months
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Mortgage lenders are preparing for the biggest wave of delinquencies in history. If the plan to buy time works, they may avert an even worse crisis: Mass foreclosures and mortgage market mayhem.