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Italy is canceling mortgage bills – can the U.S. do that?
Homeowners in Italy are seeing many of their bills suspended – including mortgages – as the country deals with the coronavirus pandemic, and now other European nations are considering similar moves. Is a “mortgage holiday” coming to America?
The short answer is: probably not. Most American mortgages are packaged into bonds with legal terms that dictate what the servicers who handle the billing can and can’t do. Read more