In this 21 minute video, Lydia Wietsma and I discuss the latest in forbearance, foreclosures, loan servicing, Zillow, and the market.
At some point, nearly everyone who was in the real estate business in 2008 says, “I wish I bought one/some/many houses when they went on sale from 2009-2011.” Then they go on and say, “Next time, I will be ready.” This sentiment is why prices won’t crash.
Housing inventory is slowly increasing, giving more options to our exhausted buyers. With the inventory gains, appreciation has started to slow which is also good for the overall health of the market.
There is a lot of confusion with all of the info coming out of Washington DC. There are proposals, bills, executive orders, extensions, approvals, and appointments announced every day. In this 15 minute video, Lydia Wietsma and I share updates on these policies impacting housing.
The forbearance numbers have improved a lot in the past month. We are down to 3.48% of borrowers or roughly 1.74 million borrowers are now in a forbearance plan. This is huge progress. Think about where we were in May of 2020 with nearly 4.76 million loans in forbearance which is over 9% of borrowers!
In this 19 minute video, Lydia Wietsma and I discuss the latest in forbearance, extensions, and tax liens. We share this information to help provide guidance for real estate professionals and struggling borrowers.
This week was week number 13 of continued improvement in the forbearance numbers and are now down to 4.18% of loans in forbearance or about 2.1 million borrowers. This is fewer than half the total amount of borrowers who were initially in a forbearance plan in May of 2020 which was about 8.47% of borrowers which was way below the predicted 30% of borrowers who were expected to go into forbearance.
Covering the latest in forbearance, delinquencies, employment, and loan servicing.
After 2 weeks of large drops, we had a small drop in total loans in forbearance. As of April 18, about 4.49% of loans were in forbearance, a slight decline from 4.50%. This is a decline of nearly 5,000 borrowers to about 2.25 million.
Two weeks ago, we had a big drop in total loans in forbearance, and last week we had another large drop. We are now down to 4.50% of loans or 2.3 million homeowners in a forbearance plan. Two weeks ago, it was 4.9% of loans.