Don't Expect A Tidlewave Of Foreclosures

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Don't Expect A Tidlewave Of Foreclosures

Find Houston Forclosure Homes For Sale

The cost of things like food and gas is going up, and some people are worried that they won't be able to afford their mortgage payments. This could lead to a lot of foreclosures, which is when the bank takes a house away from the homeowner.

However, experts say that a flood of foreclosures is unlikely. One reason is that lending standards have tightened, so people who are buying homes are more likely to be able to afford them.

Another reason is that the number of homeowners who are seriously behind on their mortgage payments is declining. This means that most people are making their mortgage payments on time, so there is not a large number of people who are at risk of foreclosure.

So, if you're worried about a potential flood of foreclosures, there's no need to be. The data shows that this is unlikely to happen.

For a list of available FORECLOSURES in the Greater Houston MetroHouston Foreclosure Homes For Sale

Houston Gay Realtor Real Estate Agent Leslie Don Wilson
Leslie Don Wilson
Houston - 281-804-2291 
Houston Real Estate BOSS
Texas Pride Realty Group
Brokered by: HomeSmart Stars 

Comments (4)

Edward Gilmartin
CRE - Boston, MA

All I see is unemployment rising in 2024 leading many workers to relocate for new opportunity . If they bought since 2019 they may have to accept an offer on their home far below what they paid for home

Sep 21, 2023 06:56 AM
Doug Rogers
RE/MAX Coastal Properties - Destin, FL
Your Real Estate Resource!

Good points, my concern is how much we seem to be pushing debt to income. A round of layoffs would knock a bunch of two income households to their knees. Sure most have equity, but will they act in a timely manner?

Sep 21, 2023 07:25 AM
Ed (Edward) Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

The only way that homes can be lost is if their jobs disappear which is always possible.

Sep 21, 2023 06:22 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker
Great information, thanks for sharing.  I hope you have a great day.
Sep 22, 2023 02:25 AM