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3 out of 10 households have missed their July house payment

7/14/2020

 
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As COVID-19's economic fallout continues, a new survey has found that 32% of U.S. households have not made their July house payment yet. The survey was conducted by Apartment List, an online rental platform.
 
This is the fourth month in a row that a serious number of American households have been unable to make their house payment or rental payment in full and on time. 30% reported being unable to pay in full and on time in June...31% reported the same in May, and 26% in April.
 
The survey's organizers said, “The economic fallout from the pandemic does not appear on track for the quick V-shaped recovery that many had originally hoped for.  Additionally, the continued COVID-19  recession has more Americans worried about foreclosures and evictions.

Renters are the most vulnerable. 36% of renters have missed their July housing payment, compared to 30% of homeowners.
 
As most households spent their one-time stimulus check long ago, and with the extra $600 per week in unemployment insurance runs out at the end of July...even more households will likely miss their rent or mortgage payments in upcoming months.  See the survey here.


If you already feel your financial situation is out of control...contact us for a FREE CONSULTATION for debt resolution and/or bankruptcy at (731) 423-1888. The law office of T. Verner Smith has helped thousands overcome financial problems, and can help you too. Call today! ​

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