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Category: Foreclosures

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One Key Sign We’re Not Headed for a Wave of Foreclosures

Written by Key Largo Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Foreclosures, Key Largo Mortgage, Key Largo Mortgage Rates.

Foreclosures are ticking up. And that may make your mind jump straight to thoughts of 2008 – specifically to what happened to the market during the housing crash. So, let’s do exactly what your brain already wants to do, and see if there’s any connection there. The simple truth is foreclosure filings are rising. But they’re nowhere near crisis levels. And that’s not where they’re headed either. Here’s why. Take a look at serious delinquencies – loans where the homeowner is more than 90 days late on their mortgage payments. While those have increased slightly, data from the New York Fed...

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Why Rising Foreclosure Headlines Aren’t a Red Flag for Today’s Housing Market

Written by Key Largo Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Foreclosures, Key Largo Mortgage, Key Largo Mortgage Rates.

If you’ve seen headlines saying foreclosure activity has been climbing for 10 straight months, it’s easy to assume that’s a sign of trouble for the housing market. But when you look at the full picture, a few simple truths become clear: Today’s foreclosure numbers are in line with what’s considered normal High home equity is keeping most homeowners in a strong financial position None of the data points to a big wave of distressed sales that’ll crash the market Foreclosure Filings Are Up 32%, But That Doesn’t Mean the Market’s in Trouble If you peel the layers all the way back, what...

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What Mortgage Delinquencies Tell Us About the Future of Foreclosures

Written by Key Largo Mortgage Syndicated User on . Posted in Economy, For Buyers, For Sellers, Foreclosures, Key Largo Mortgage, Key Largo Mortgage Rates.

You may be seeing headlines about how foreclosures are rising. And if that makes you nervous that we’re headed for another crash, here’s what you should know.  According to ATTOM, during the housing crash, over nine million people went through some sort of distressed sale (2007-2011). Last year, there were just over 300,000. So, even with the increase lately, we’re talking about numbers that are dramatically lower. But what does the future hold? Is a wave coming? The short answer is, no. Here’s why. Experts in the industry look at mortgage delinquencies (loans that are more than 30 days...

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The U.S. Foreclosure Map You Need To See

Written by Key Largo Mortgage Syndicated User on . Posted in For Buyers, For Sellers, Foreclosures, Key Largo Mortgage, Key Largo Mortgage Rates.

Foreclosure headlines are making noise again – and they’re designed to stir up fear to get you to read them. But what the data shows is actually happening in the market tells a very different story than what you might be led to believe. So, before you jump to conclusions, it’s important to look at the full picture. Yes, foreclosure starts are up 7% in the first six months of the year. But zooming out shows that’s nowhere near crisis levels. Here’s why. Filings Are Still Far Below Crash Levels Even with the recent uptick, overall foreclosure filings are still very low. In the first half of...

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Why Today’s Foreclosure Numbers Aren’t a Warning Sign

Written by Key Largo Mortgage Syndicated User on . Posted in Economy, Foreclosures, Key Largo Mortgage, Key Largo Mortgage Rates.

When it feels like the cost of just about everything is rising, it’s only natural to wonder what that means for the housing market. Some people are even questioning whether more homeowners will struggle to make their mortgage payments, ultimately leading to a wave of foreclosures. And recent data showing foreclosure filings have increased is only feeding into this fear. But don’t let that scare you. If you put the latest data into context, it’s clear there’s no reason to think this is a repeat of the last housing crash. This Isn’t Like 2008 While it’s true that foreclosure filings ticked...

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Mortgage Forbearance: A Helpful Option for Homeowners Facing Challenges

Written by Key Largo Mortgage Syndicated User on . Posted in Agent Value, For Sellers, Foreclosures, Key Largo Mortgage, Key Largo Mortgage Rates, Selling Tips.

Let’s face it – life can throw some curveballs. Whether it’s a job loss, unexpected bills, or a natural disaster, financial struggles can happen to anyone. But here’s the good news. If you’re a homeowner feeling the squeeze, there’s a lifeline that many people don’t realize is still available: mortgage forbearance. What Is Mortgage Forbearance? As Bankrate explains: “Mortgage forbearance is an option that allows borrowers to pause or lower their mortgage payments while dealing with a short-term crisis, such as a job loss, illness or other financial setback . . . When you can’t afford to...

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Why Today’s Mortgage Debt Isn’t a Sign of a Housing Market Crash

Written by Key Largo Mortgage Syndicated User on . Posted in Equity, Foreclosures, Key Largo Mortgage, Key Largo Mortgage Rates, Mortgage Rates.

One major reason why we’re not heading toward a foreclosure crisis is the high level of equity homeowners have today. Unlike in the last housing bubble, where many homeowners owed more than their homes were worth, today’s homeowners have far more equity than debt. That’s a big part of the reason why even though mortgage debt is at an all-time high, this isn’t 2008 all over again. As Bill McBride, Housing Analyst for Calculated Risk, explains: “With the recent house price increases, some people are worried about a new housing bubble – but mortgage debt isn’t a concern . . .” Today’s...

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Why Today’s Foreclosure Numbers Won’t Trigger a Crash

Written by Key Largo Mortgage Syndicated User on . Posted in Economy, Foreclosures, Key Largo Mortgage, Key Largo Mortgage Rates.

With everything feeling more expensive these days, it’s natural to worry about how rising costs might impact the housing market. Many people are concerned that high prices and tighter budgets could cause more homeowners to fall behind on their mortgage payments, leading to a wave of foreclosures. But before you start worrying about a housing market crash, here’s a look at what’s really happening. And the good news is: the latest foreclosure data shows there’s no wave on the horizon. How Today’s Market Is Different from 2008 Let’s ease those fears by looking at the bigger picture. The graph...

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3 Reasons Why We’re Not Headed for a Housing Crash

Written by Key Largo Mortgage Syndicated User on . Posted in Foreclosures, Infographics, Inventory, Key Largo Mortgage, Key Largo Mortgage Rates.

Some Highlights Back in 2008, there was an oversupply of homes for sale. Today, there’s an undersupply. The three main sources of inventory show this isn’t like the last time. Existing homes, new homes, and foreclosures are all way below the levels we saw during the housing crash. Inventory data shows there just aren’t enough homes available to have a repeat of what happened back in 2008. 

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Why a Foreclosure Wave Isn’t on the Horizon

Written by Key Largo Mortgage Syndicated User on . Posted in Forecasts, Foreclosures, Key Largo Mortgage, Key Largo Mortgage Rates.

Even though data shows inflation is cooling, a lot of people are still feeling the pinch on their wallets. And those high costs on everything from gas to groceries are fueling unnecessary concerns that more people are going to have trouble making their mortgage payments. But, does that mean there’s a big wave of foreclosures coming? Here’s a look at why the data and the experts say that’s not going to happen. There Aren’t Many Homeowners Who Are Seriously Behind on Their Mortgages One of the main reasons there were so many foreclosures during the last housing crash was because...

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