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Foreclosures on the rise?

By
Real Estate Broker/Owner with Realty Concierge International MA #9535680 RI#REB0019277

foreclosure ontario-Power of Sale vs. Foreclosure – making the right choice

 

For year-to-date 2024, foreclosures have risen nationwide due to inflation. The COVID Moratoriums have all but expired (except VA which is due to expire 12/31/24) which means for those homeowners who are in trouble, they will soon fall victim to a legal foreclosure.  

For those that are hoping to save their home from foreclosure you may be able to suspend the process further by applying for the Homeowner Assistance Fund (HAF) but only if the mortgage servicers work with state housing finance agencies and HUD-approved housing counseling agencies.  "The HAF is a federal program that provides money to states, tribes, and territories to assist homeowners with housing-related costs."

Investors ---- keep your eyes open for opportunities.  

Some of the homes that are on the foreclosure list have already been abandoned and/or owners recognize they will need to find alternative housing soon.  It is only a matter of time before the foreclosure auction occurs.  For those properties, it may be a good idea to become a member of Foreclosure.com to be up to date on the areas in which you have interest.  There are so many homes already with a scheduled auction date that you or your investor may have interest.  Pre-foreclosure homes are the homes that are in 'jeopardy' of being foreclosed on soon.  Lots of homes in that category.  

Good luck!

Posted by

 


Kelly McGovern, Broker/Owner

Realty Concierge International
Mobile: (508) 331-7158
eFax: (877) 491-3766
Email: Info@KellyMcGovern.Realtor
Website: http://www.RealtyConcierge.Realtor
9535680

Comments(7)

George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Kelly McGovern so far that has not been the trend around here and I hope it stays that way for us.

Jun 15, 2024 04:09 PM
John Pusa
Glendale, CA

Hello Kelly McGovern very good report about foreclosures on the rise.

Jun 15, 2024 08:44 PM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Enjoyed your blog page, and I added you as a follower. I would love the follow back. Bill

Bill Salvatore, Realtor- Arizona Elite Properties

Jun 16, 2024 05:57 AM
Kelly McGovern
Realty Concierge International - Bellingham, MA
Working with Kelly is a good move

Thanks Bill!  I followed back! Happy Father's Day :) 

Jun 16, 2024 08:39 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker
Great information, thanks for sharing.  I hope you have a great day.
Jun 17, 2024 04:10 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Right now, foreclosures have not been increasing, so it has not been the trend in this area. But investors are increasing and looking for deals!

Jun 24, 2024 03:49 AM
Roy Kelley
Retired - Gaithersburg, MD

Real estate investors love to find the foreclosures opportunities. Have a productive summer.

Jun 24, 2024 04:23 AM