Some federal protections put in place to protect homeowners from foreclosure and renters from eviction during the COVID-19 pandemic ended on July 31. If you are having trouble making your rent or mortgage payments, it’s important to take action to prevent foreclosure or eviction.
This post is the third in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic. The economic disruption of the pandemic does not appear to have caused consumers to run up large credit card balances. The opposite seems to be the case, since April 2020, credit card balances and utilization rates have continued to decline, and the share of credit card borrowers that carry a balance rather than pay in full have also declined.
The COVID-19 pandemic has made it difficult for renters and landlords to cover housing costs. A new Rental Assistance Finder tool allows people to search for local help with rent, utilities, and moving costs.
A consumer advisory from the CFPB’s Office of Servicemember Affairs on the SCRA waiver rights and updates to lease termination notification options.
The federal foreclosure moratoria are set to expire July 31st, and lenders and mortgage servicers can start foreclosing on homes as soon as August 1st. Homeowners who are behind on their mortgages must act now to save their homes.
Today is the 10th anniversary of the Consumer Financial Protection Bureau. The CFPB is proud to celebrate 10 years of protecting consumers, and looks forward to the next decade.
A joint fraud advisory from the CFPB and VA on how to avoid common VA home loan scams.
This post is the second in a series documenting trends in consumer credit outcomes during the COVID-19 pandemic. Since July 2020, consumers have transitioned out of assistance to varying degrees across all credit products, but a significant share of mortgage borrowers continue to receive assistance.
Many landlords are having trouble making ends meet during the pandemic when tenants can’t pay their rent. Learn more about emergency rental assistance and how it can help you and your tenants get through these difficult times.
Our digital toolkit provides media, intermediaries, and other stakeholders with the latest information and resources to help educate struggling renters and mortgage borrowers of their protections and relief options.
Learn how Buy Now, Pay Later products work and other important details to help you decide whether or not to use them for purchases.
The CFPB hosted a roundtable to discuss biases that come from home valuations, and explored how to remedy the problem.
This analysis investigates how characteristics of mortgages, borrowers, and lenders vary across AAPI subgroups, based on the 2020 Home Mortgage Disclosure Act (HMDA) data.
We have notified companies that we will be paying particular attention to practices related to the accuracy of rental information in consumer reports. Learn how to protect yourself and how to take action if denied rental housing because of errors in your tenant screening reports.
July is Military Consumer Month, and we are partnering with the FTC and DoD on events throughout the month to spotlight key financial issues for the military community.
New research finds that over 2.8 million consumers have information on their business loans and other commercial credit products on their consumer credit reports. An examination of commercial and consumer credit also finds common inconsistencies in reporting practices and strategies, with the potential for significant implications for consumers.
We have temporarily updated our rule for most mortgage servicers to require them ─ when they reach out to borrowers who are behind on their loans or in forbearance ─ to tell borrowers about their options to avoid foreclosure. Learn why you should contact your mortgage servicer if you’re struggling to make your payments.
The CDC just extended the eviction moratorium to July 31, 2021. If you still need help paying your rent, take action now. Our information can help you get started.
We continue to monitor the market to assess new and developing risks to consumers, and we share updated charts from our report that show an improving economic picture, yet sustained housing insecurity risk.
New Bureau research examines consumer credit trends through April 2021, finding little increase in delinquencies on credit cards, auto loans, mortgages, and student loans during COVID-19. Delinquency rates also remain lower than pre-pandemic levels, likely as a result of public and private interventions.
Si le preocupa enfrentar un desalojo y que la moratoria del CDC termine, nosotros contamos con información para ayudarle. Esté informado acerca de cuáles pasos debe tomar, cuál asistencia hay disponible, y qué preguntas debería hacer.
We have information to help if you are concerned about eviction and the upcoming expiration of the CDC eviction moratorium. Stay informed about possible steps you need to take, available assistance, and questions you should ask.
In this blog, we explain the data source and analytical approach, as well as key findings from the report ‘A Brief Note on General Lending Patterns of Small to Medium Size Closed-end HMDA Reporters’
Under the Regulatory Flexibility Act, Federal agencies must publish regulatory agendas twice a year. CFPB participates in the Unified Agenda process, which is led by the Office of Management and Budget (OMB).
Borrowing and lending money to family and friends is increasingly common during the pandemic. The Friends and Family Exchanges Toolkit is a resource for financial educators to support clients borrowing or lending money because of a financial emergency.
