CFPB Warns of Imminent Eviction Risks Following End of Pandemic Protections

CFPB warned of the threat of widespread foreclosures and evictions following the end of government COVID-19 pandemic-related protections, absent further public or private action.

In its report, CFPB made the following findings, among others:

• the number of households behind at least three months on their mortgages has more than doubled to over 2 million - a number that was last seen at the height of the Great Recession in 2010;

• households that are behind on their mortgages owe deferred principal, interest, taxes and insurance payments totaling nearly $90 billion;

• approximately eight million households are behind in rent; and

• black and Hispanic families are more than twice as likely as white families to report that they are behind on housing payments.