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!
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