A tsunami of deferred debt is about to hit homeowners no longer protected by a foreclosure moratorium

In New Orleans, the rate of forbearance is higher than in any other major metro area as of July 6, according to Black Knight, a data analytics firm that focuses on real estate. About 7 percent of borrowers are taking advantage of the program, twice the national share of about 3.5 percent. Baton Rouge, about 80 miles northwest of New Orleans, ranked second-highest on forbearance rates.