If you need assistance, please call 651-735-7653

Blog

Saturday, January 8, 2022   /   by Louetta Larson

There Won’t Be a Wave of Foreclosures in the Housing Market

There Won’t Be a Wave of Foreclosures in the Housing Market


When mortgage forbearance plans were first announced and the pandemic surged through the country in early 2020, many homeowners were allowed to pause their mortgage payments. Some analysts were concerned that once the forbearance program ended, the housing market would experience a wave of foreclosures like what happened after the housing bubble 15 years ago.

Here’s a look at why that isn’t the case.

1. There Are Fewer Homeowners in Trouble This Time

After the last housing crash, over nine million households lost their homes to a foreclosure, short sale, or because they gave it back to the bank. Many believed millions of homeowners would face the same fate again this time.

However, today’s data shows that most homeowners exited their forbearance plan either fully caught up on payments or with a plan from the bank that restructured their loan in a way that allowed them to start ...

Read More


  2022, foreclosures, home prices, housing market, keeping current matters, real estate