Don’t Expect a Wave of Foreclosures!

Let’s break it down in simple terms! With concerns about inflation driving up costs, some folks worry about a surge in foreclosures. Here’s why that’s probably not going to happen.

May’s mortgage delinquency rate hit an all-time low, and serious delinquencies followed suit. In plain words, fewer people are falling seriously behind on mortgage payments right now.

So, if you’re concerned about a flood of foreclosures, the data suggests it’s unlikely. Most folks are keeping up with their payments, so no foreclosure wave is on the horizon.

There is more to the story, of course, so if you have any other questions about the foreclosure “frenzy,” let me know in the comments section!