Foreclosure Crisis 2021 NOT !

[Jay Hinrichs]

Recent report by corelogic indicates no crisis in the offing. and defaults are down since June.

So those sitting and waiting for this massive foreclosure correction might not see that.

What I personally think is for sure there is pent up foreclosures that would happen in a normal cycle in any normal year.

those got delayed a year so there will be more foreclosures through the pipeline once those start to hit than in a normal year but its

just foreclosure pipeline catch up.

Thoughts for those of you that play in the foreclosure sandbox ?

[Jay Hinrichs]

Originally posted by @Jeff Copeland:

I completely agree. I see no foreclosure crisis looming. 

Sure, they might be a backlog of the minimal foreclosure inventory that would have normally been there anyway, like you said.

But with real estate prices soaring across the country, even those in deferment or otherwise struggling to pay debt service are likely to have equity, giving them multiple ways to avoid foreclosure. 

Only a fool would let the bank foreclose when they have the option of selling the property, paying off the debt, and possibly even walking away with some cash.  

Or let it go to sale and collect the overage  !!!   there are fools everyday in real estate and or those in divorce or health etc or die .. or simply bad managers of their perosnal affairs.   so you always have foreclosures always.. 

Just not going to be this big meltdown that was talked about on BP with those waiting for this event to happen  at least not in the short term.