Inability to Pay Mortgage Among Top Consumer Complaints

first_img June 22, 2020 1,564 Views A report by NerdWallet found complaints to the Consumer Financial Protection Bureau (CFPB) were up 31% so far in 2020 compared to last year.The top complaint fielded by the CFPB directly tied to COVID-19 was consumers not being able to pay their mortgages at 16%.Additionally, 26% of complaints to the CFPB had “mortgage” labeled as the primary financial product.“In reading through those labeled as mortgage complaints, we found many consumers frustrated with the lack of relief provided by mortgage forbearance offers,” the report added. “Namely, the consumers were unhappy that lenders required full repayments of delayed installments—known as a balloon payment—at the conclusion of the forbearance period.”Complaints related to job loss were up 34% when compared to last year. The CFPB received 142,782 complaints from Jan. 1, 2020, to the end of May—a 31% annual increase.The latest data from Black Knight revealed the number of mortgages in COVID-19-related forbearance fell for the third consecutive week. Overall, the number of active forbearance plans is down 57,000 from last week and 158,000 from the peak the week of May 22.At these levels, mortgage servicers need to advance a combined $3.4 billion a month to holders of government-backed mortgage securities on COVID-19-related forbearances. That’s on top of the $1.4 billion in T&I payments they must make on behalf of borrowers.Black Knight also reported that an additional 723,000 homeowners became delinquent on their mortgages in May, causing the national average to rise to its highest level in 8.5 years.There are now 4.3 million homeowners past due on their mortgages or in active foreclosure, including those in forbearance who have missed scheduled payments as part of their plans, up from 2 million at the end of March.Serious delinquencies are on the rise as well, increasing by more than 50% over the past two months. However, Black Knight’s McDash Flash Payment Tracker shows a higher share of payments have been made thus far in June than at the same time in May, suggesting the rise in delinquencies may be leveling off. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago About Author: Mike Albanese The Best Markets For Residential Property Investors 2 days ago  Print This Post Previous: U.S. Households Report Overall High Economic Well-Being Next: The Democratization of Distressed Property Buyers in Daily Dose, Featured, Government, News Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: CFPB COVID-19 Mortgages Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Inability to Pay Mortgage Among Top Consumer Complaints CFPB COVID-19 Mortgages 2020-06-22 Mike Albanese Inability to Pay Mortgage Among Top Consumer Complaints Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Savelast_img read more

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3-year-old dies after falling into a grease trap at Tim Hortons

first_imgAuthorities in Rochester, N.Y are reporting that a 3-year-old boy has died after he fell into a grease trap while playing at a Tim Hortons restaurant.The incident occurred just before 12:00 pm Monday in the area of University Avenue and Culver Road.Officials told reporters that they initially received a call about a missing child. As they headed to the location, they received another call about a child who was found in a grease trap at the same location.“I don’t know how long he was in there, but we do know that it was almost instantaneous: When the mother found the child missing, they called the police right away, and several minutes later he was discovered in the grease trap,” said Investigator Frank Camp of the Rochester Police Department during a press conference.When authorities arrived, the child had been pulled out of the wastewater disposal system and a witness was attempting CPR. Officials then relieved the witness and began CPR until the child was taken to the hospital where he was pronounced dead.According to the report, the child reportedly climbed on top off the grease trap that was embedded in the ground and it’s plastic lid gave way. The child fell into the grease trap and was unable to get out.Authorities are continuing the question employees and witnesses at the scene. They will also review surveillance video to gather more details on the incident.last_img read more

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Saints fill netminder hole with addition of James Prigione

first_imgGoalies are supposed to rotate during the season and not in the off-season.For the fourth time this off-season the Selkirk Saints added a netminder.The Saints announced the playing commitment from goaltender James Prigione (Guelph, ON) to attend Selkirk College and compete for the Saints beginning in the 2013/14 B.C. Intercollegiate Hockey League season.Prigione fills a hole created when Myles Hovdebo decided skip Selkirk for a chance to play at the University of Calgary. “Myles had a great opportunity to compete at the CIS level that he couldn’t turn down,” said Saints skipper Jeff Dubois.”We’re very pleased for him, and also glad that we were able to bring James on board to fill a very important role with our team.”Former Nelson Leafs goalie Marcus Beasley also decided not to attend Selkirk after agreeing to a letter of commitment.The 22-year old Prigione closed out his junior career in 2012 with the Ontario Junior Hockey League’s Oakville Blades, posting a 17-7-2 record in 28 regular season games.He led all OJHL netminders with a 2.04 goals-against average and .932 save-percentage and won the league’s Top Goaltender award for the 2011/12 season.Prigione’s strong play carried over into the playoffs, where he once again topped the OJHL with a 1.91 GAA and .940 SV% over 11 starts while leading the Blades to a berth in the West Division finals. Prigione has also made a trio of Major Junior appearances with his hometown Guelph Storm of the Ontario Hockey League, picking up a pair of wins and recording a 2.09 GAA and .918 SV% during the 2008/09 and 2009/10 seasons. “We’re very excited to add a goaltender of James’ ability and experience level to our team,” said Dubois.”James is an athletic goaltender who put together a tremendous season as a 20-year old in Oakville. I expect him to step in to our line-up and be a big contributor in the BCIHL.” Prigione plans to study Business Administration at Selkirk College. “I’m excited to continue my education out west and have the opportunity to play for such a successful hockey program,” said Prigione, who describes himself as an athletic goaltender with quick foot speed and strong positional play.”I’m also looking forward to meeting my new teammates and spending time with family in the area. I love the idea of playing in a region so rich in hockey tradition, and hopefully contributing to another BCIHL championship at Selkirk.” Prigione is the second goaltender and 10th player overall to commit to the Saints for the 2013/14 season. He joins forwards Darnell Dyck (Langley, BCHL), Markus McCrea (Youngstown, USHL) and Garrett Kucher (Osoyoos, KIJHL), blueliners Stefan Gonzales (Aldergrove, PJHL), David Mead (Wenatchee Wild, NAHL), Arie Postmus (Beaver Valley, KIJHL), Ryan Procyshyn (Delta, PJHL) and Tanner Lenting (North Delta, PJHL) and goaltender Aaron Oakley (Abbotsford, PJHL).last_img read more

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CALIFORNIA-BRED WARREN’S VENEDA IS SMASHING 7 ¼ LENGTH WINNER OF GRADE I, $400,000 SANTA MARGARITA STAKES; WARREN HOMEBRED MARE RIDDEN BY BAZE AND TRAINED BY LEWIS

first_imgARCADIA, Calif. (March 14, 2015)–California-bred Warren’s Veneda firmly established herself as the West Coast’s top older filly or mare with a sensational 7 ¼ length win in Saturday’s Grade I, $400,000 Santa Margarita Stakes, as she negotiated 1 1/8 miles under Tyler Baze in 1:48.73.Conditioned by Craig Lewis, the 5-year-old chestnut mare by Affirmative registered her third win in-a-row and followed up on a career-best 2 ¾ length win in the Grade II Santa Maria Stakes on Feb. 14. Drawn outside in a field of six older fillies and mares, Warren’s Veneda was hung three-wide while last into the Club House turn and cruised to the leaders while in-hand under Baze going to the far turn. Three-wide turning for home she lengthened her considerable stride and put her competition away with a furlong to run.“The last three times I’ve ridden her, she just does things so easy,” said Baze. “I haven’t gotten to the bottom of her yet. There’s so much horse under me and she just does what she needs to do to win…Usually, if you’re sitting mid-pack, horses won’t flick their ears back and forth and just relax, but she was…and was totally relaxed.“Craig tells me she’s only getting better and she proved it today. She’s special. She’s named after Mr. Warren’s late wife, so I know how special this is for him.”Owned by her breeder, Benjamin, C. Warren, Warren’s Veneda provided Warren, who has owned and bred horses in California for 35 years, with his first-ever Grade I win.“Out of our 800 horses, that’s the best win, the biggest,” said Warren, who currently resides in Las Vegas.The 3-2 favorite, Warren’s Veneda paid $5.00, $2.60 and $2.20. The Santa Margarita was her eighth win from 22 career starts, and with the winner’s share of $240,000, she increased her earnings to $827,612.“I was pretty confident that she was going to win, but I didn’t think that she would be that dominating, because I thought the two Eastern fillies (runner-up Dame Dorothy and early pace setter Cassatt) looked awful good on paper,” said Lewis. “We’re thinking about the Charles Town Classic (versus males on April 18). We’re going to have to take on some pretty tough boys, but she could be up to the task.”Dame Dorothy, who shipped in from South Florida for trainer Todd Pletcher, stalked the early pace and overhauled Thegirlinthatsong and Uzziel late to run second by a half length. Ridden by Rafael Bejarano, Dame Dorothy was the second choice at 2-1 and paid $3.20 and $2.60.Ridden by Mike Smith, Thegirlinthatsong was off at 8-1 and finished third, a half length in front of Uzziel and paid $2.80 to show.Fractions on the race were 23.15, 46.64, 1:10.68 and 1:35.79.First post time for a nine-race card on Sunday is at 12:30 p.m. Admission gates open at 10:30 a.m. –30–last_img read more

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