Will Foreclosures Overwhelm The Housing Market?

By
Real Estate Agent with Joe Manausa Real Estate 8508880888

The foreclosure moratorium was lifted. Eight million borrowers in the US who enrolled in loan forbearance plans that allowed them to quit making mortgage payments for quite a long time are coming out of those programs. Will 2022 be the year that foreclosures finally overwhelm the housing market?

Foreclosure Wave In 2022?

 

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Joe Manausa Real Estate
1934 Dellwood Drive
Tallahassee, FL 32303
(850) 366-8917

Comments (9)

Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Thanks for sharing this information!  Have a great day!

Mar 29, 2022 07:15 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

The courts have not been doing much with foreclosures much due to the pandemic.  With the easing up of the forbearance  it comes down to how much in homes the banks want to send into the market place, knowing it is an aggressive seller's market and also that they are not in a position to make profits on the backs of those they are evicting

Mar 29, 2022 08:01 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Joe - in this sellers market I banks would make a profit.  Owners should get their homes listed and pay off the mortgage.

Mar 29, 2022 08:32 AM
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Whilst we have seen foreclosures throughout the pandemic, we see most homeowners have increased their equity and can sell and payoff their loans, if they have somewhere to go that is. also, unemployment is so low that they may very well be able to change jobs and afford the payments on that original mortgage.

Mar 29, 2022 09:08 AM
Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Well Joe Manausa, that remains to be seen. In all business cycles there are tops and bottoms so I suspect there could be more foreclosures than we expect BUT it all depends on how much the bankers and governments tinker until their plan is ready to be unleashed

Mar 29, 2022 09:36 AM
Shayne Stone
HomeSmart - Fulshear, TX
"Your Rock Solid Choice Realtor"

Great information!  Thanks for sharing and have a wonderful and productive day!

Mar 29, 2022 11:08 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

With increased equity during this pandemic, I would think a troubled but wise seller would put their property on the market for sale and avoid foreclosure.

Mar 29, 2022 07:35 PM
Paddy Deighan MBA JD PhD
http://irstaxdebt.pro - Vail, CO
Paddy Deighan J.D. Ph.D

I fondly recall Doug Casey proclaiming in 1989 that real estate was a bubble and a HUGE market collapse was imminent....then it happened 2 years later and he spiked the football & declared himself a visionary

Mar 29, 2022 10:41 PM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

It's a scary thought...these buyers that are waving appraisals and going so far over the asking price better be prepared for the much larger mortgage payment through the years.  

Mar 31, 2022 12:40 PM