This brings up two points. First, the banks would not have to immediately foreclose and put a lot of people in a lot of stress trying to go through the system to recover their mortgage. Second, it would also ensure that there would not suddenly be a lot of homes going on the market at reduced rates. Obviously, that might please some people, but again, that could be factor, especially if you're in a particular neighbourhood that is dependent on one mill or a large factory.
On August 17th, 2020. See this statement in context.