Tag: Distressed Properties

Understand Your Options To Avoid Foreclosure

Written by St. Augustine Mortgage Syndicated User on September 8, 2021. Posted in St. Augustine, St. Augustine Mortgage.

Even though experts agree there’s no chance of a large-scale foreclosure crisis, there are a number of homeowners who may be coming face-to-face with foreclosure as a possibility. And while the overall percentage of homeowners at risk is decreasing with time (see graph below), that’s little comfort to those individuals who are facing challenges today.If you haven’t taken advantage of the forbearance period, it may be time to research and understand your options. It starts with knowing what foreclosure is. Investopedia defines it like this: “Foreclosure is the legal process by which a lender...

4 Reasons Why the End of Forbearance Will Not Lead to a Wave of Foreclosures

Written by St. Augustine Mortgage Syndicated User on July 28, 2021. Posted in St. Augustine, St. Augustine Mortgage.

With forbearance plans about to come to an end, many are concerned the housing market will experience a wave of foreclosures like what happened after the housing bubble 15 years ago. Here are four reasons why that won’t happen. 1. There are fewer homeowners in trouble this time After the last housing crash, about 9.3 million households lost their home to a foreclosure, short sale, or because they simply gave it back to the bank. As stay-at-home orders were issued early last year, the overwhelming fear was the pandemic would decimate the housing industry in a similar way. Many experts projected...