The Mortgage Market Is On The Verge Of COLLAPSE - 4.7 Million Americans CAN'T Pay Their Mortgages

America is seeing a mortgage crisis in 2020 with millions of mortgages in forbearance. In May, 8.8% of mortgages are in forbearance meaning 4.7 million Americans don't have the means to pay their debt payments.

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The Mortgage Market Is On The Verge Of Collapse - 4.7 Million Americans CAN'T Pay Their Mortgages
0:25 - What is mortgage forbearance
0:55 - 4.7 million Americans cannot pay their mortgages and are in forbearance
2:06 - People don’t have money to pay their mortgages
2:55 - How the CARES Act affected mortgage forbearances so people could pause government backed mortgages
4:21 - Can you sell your home when you’re in forbearance
5:07 - You will see more loan restructuring
5:35 - Will people be able to pay their mortgages when the forbearance program ends
7:25 - Look at the supply of homes for sale and the demand to buy a home because this will affect home values
9:00 - How the government and the fed are trying to keep real estate values high
9:55 - Why it could be the best time in history to refinance a home
10:40 - Landlord foreclosures can affect the price of real estate

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Video host: Jaspreet Singh

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DISCLAIMER CONT'D: I'm just a random guy on YouTube so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

[DisabilityExams]

Paid off my mortgage in 5 1/2 years. Wasn't easy, but now I don't have to worry about paying my mortgage.

[skylerdylan]

Don’t forget all the Airbnb’s that are currently sitting empty.

[bravehats]

I have waited 6 years to buy a house. In those years, I got married, had kids...kids are now 5 years and ready for school. On another note, I have saved 20% down payment, saved one year emergency funds, improved my credit score to low 800s. Hopefully, all these years I waited will be worth it. We are buying next year.

[NikhLogic]

He's one of the most mature YouTuber I have ever seen. He speaks facts! ✅

[Tibetanphosa]

Today you didnt mention Gucci and I dont like it

[Surfturf]

Hey Jaspreet.. you make lot of real life financial videos that most of the people need. Keep hustling bro

[markbowman]

People had 12 years since 2008 to figure out how to put a little something away for their emergency fund. I learned my lesson in 2008.

[phiology]

Thank god I dont have a mortgage. I saved up and pay my 200k home by cash. Save a shit load on interest and got me a boat which I paid in cash. All debt paid off feels good

[supernerd]

I just need my bank to pause my mortgage for the next 85 years after that they can foreclose on me if they want. (I won't challenge it I promise)

[CAREERMAN]

My only issue is - every time I think the Mortgage market will collapse, the Banks always, somehow, manage to keep things propped up for years longer than you'd expect.

[paulfoytack]

These are people who define living within their means as "I can afford the payments."

[romangabriel]

I know numerous people that are still employed that still got forbearance. They are just stashing cash. Completely unreal.

[annmcb]

Thank you Jaspreet and gang you are such a great teacher! I am learning a lot. God bless you! 🙏🙏🙏

[ThaylorHarmor]

1:13 my cousin took forebearance when her husband was furloughed. They have the money, but did not want to dip into their savings. This is giving them a little breathing room. They are setting aside the money as if they were still paying though.

[ssdskully]

I might finally get the multi unit apartment I wanna buy.

[musical_smile_guy]

Preach Brother Jaspreet! This is the info we need to make major moves for the future. #MONEYSMART

[lin]

I think some can pay they just didn’t. They just took advantage of the program

[CaseyBurnsInvesting]

When I’m trying to guess what will happen in the future I always assume most people will make poor decisions. My acquaintances have immediately gone back to making poor financial decisions as soon as their jobs came back. Meanwhile the government is propping everything up with a printer. This ought to be interesting.

[ZamaniSahib]

Fed needs to stop artificially propping up everything.

[erikvenegas]

This is really an underrated YouTube channel!