04/29/2024
If you’ve been keeping up with the news lately, you’ve probably come across some articles saying the number of foreclosures in today’s housing market is going up.
The reality is, while increasing, the data shows a foreclosure crisis is not where the market is headed.
The Headlines Make the Increase Sound Dramatic – But It’s Not
The increase the media is calling attention to is a little bit misleading. That’s because it’s comparing the most recent numbers to a time when foreclosures were at historic lows. And that lopsided comparison is making it sound like a much bigger deal than it actually is.
Back in 2020 and 2021, there was a moratorium and forbearance program that helped millions of homeowners avoid foreclosure during challenging times. That’s why numbers for just a few years ago were so low.
Now that the moratorium has come to an end, foreclosures are resuming and that means numbers are rising. But it’s...
If you’ve been keeping up with the news lately, you’ve probably come across some articles saying the number of foreclosures in today’s housing market is going up.