One reason given for the 400,000 borrowers exiting forbearance plans over the past three weeks is because borrowers do not know they can stay on or further negotiate their plans. If borrowers do not contact their lenders or servicers they are automatically removed from their forbearance plan. This is a big deal.
Tag Archives: #theazmarket
This Week in (Greater Phoenix) Real Estate 10/26/2020
In this 14 minute video, Amber Kovarik and I discuss the latest on housing, lending, and the economy. We go into detail on 2020 numbers, supply & demand, future projections in lending, forbearance, delinquencies, and some cool Arizona news!
Greater Phoenix Real Estate Update 10/23/2020
During recessions housing always does well, except when the recession is caused by housing. Despite external pressure, real estate continues to amaze economists and industry experts alike. Stay mindful of the misleading headlines and continue sharing current information with your clients. Logan Mohtashami wrote, “Stay positive, healthy and safe – and try not to create problems for yourselves by buying into boy-band folklore and fairytales.”
AZ Forbearance Update (Video) 10/21/2020
In this 13 minute video, Lydia Wietsma and I discuss the latest news in forbearance and emerging trends and where borrowers can go for help. We have some suggestions for conversations with clients and borrowers. The bottom line is that people have options but they have to take action, watch the full video for details.
This Week in (Greater Phoenix) Real Estate 10/19/2020
In this 13 minute video, Amber Kovarik and I discuss the latest on housing, lending, and the economy. We go into detail on supply & demand, future projections, warning for waiting, strategies to help buyers get their offers accepted, equity positions, and more!
Greater Phoenix Real Estate Update 10/16/2020
Residential real estate is outperforming the rest of the economy. The strong market going into the pandemic combined with historic low interest rates enabled to us to get here. We learned that these low rates trump COVID and our home is our castle. Despite the unexpected growth we are experiencing today, many experts are seeing warning signs around future affordability.
This Week in (Greater Phoenix) Real Estate 10/12/2020
In this 20 minute video, Amber Kovarik and I discuss the latest on housing, lending, and the economy. We go into detail on forbearance, obstacles when purchasing after leaving a forbearance program, helping buyers get their offers accepted, delinquencies, unemployment, and supply & demand in real estate. Greater Phoenix has had a 17% appreciation over the past 12 months!
Greater Phoenix Real Estate Update 10/9/2020
Last week a client told me about an acquaintance of hers who had received their 3-month forbearance letter stating they now owed their lender $8,000. They got scared and sold their home to Opendoor. They did not know they had extension options or the ability to stay in their house. There is an extreme lack of information being shared on forbearance.
AZ Forbearance Update (Video) 10/7/2020
The worst thing for the housing market is to have empty houses. We went through that 10 years ago. This time around with the forbearance programs, they were designed to keep homeowners in their homes, which keeps the housing market healthy.
This Week in (Greater Phoenix) Real Estate 10/5/2020
The Fannie Mae Home Purchase Sentiment Index illustrates consumer confidence for buying and selling real estate. According to the most recent update, from August, consumers believe it is a good time to buy. The buyer consumer confidence index has fully recovered to pre-pandemic levels. What is interesting is that seller consumer confidence has not fully recovered. This is seen in our low inventory levels with continued high demand.