Mortgage Lenders Ask New Question: Do You Intend to Pay?

by Mike ‘Mish’ Shedlock
The Street

New forms by lenders ask borrowers to confirm at closing that they don’t plan to skip their payments.

Do You Really Intend to Pay?

Dear borrower, please sign here if you intend to pay your mortgage.

That’s the amusing state of affairs as Covid laws allow borrowers to skip payments for a full year.

New Question: Do You Really Plan to Pay This?

Some mortgage lenders are asking customers taking out a mortgage to confirm they don’t intend to seek forbearance, a move meant to keep losses low during a pandemic that has put millions of Americans on shaky financial footing.

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