Jun 4, 2020
In April, the unemployment rate increased from 4.4% to 14.7%, the largest one month increase in history. It is likely that the unemployment rate hits 20% in May and some forecast a 25% unemployment matching that of the Great Depression rate.
However, the more concerning percentage is the estimate by many economists that 40% of the jobs lost will be permanent. No matter how the numbers turn out, there will be a significant impact to mortgage defaults, especially on modified and FHA mortgage loans.
Joining the podcast today to discuss the outlook for real estate note investing is Cody Faller, Founder and Chief Investment Officer of Faller Financial. Faller financial works with investors across the country from large banks and hedge funds to individual note buyers.