Mortgage Forbearance: A Helpful Option for Homeowners Facing Challenges

Written by Marathon Florida Keys Mortgage on January 8, 2025. Posted in Agent Value, For Sellers, Foreclosures, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Tips.

Let’s face it – life can throw some curveballs. Whether it’s a job loss, unexpected bills, or a natural disaster, financial struggles can happen to anyone. But here’s the good news. If you’re a homeowner feeling the squeeze, there’s a lifeline that many people don’t realize is still available: mortgage forbearance. What Is Mortgage Forbearance? As Bankrate explains: “Mortgage forbearance is an option that allows borrowers to pause or lower their mortgage payments while dealing with a short-term crisis, such as a job loss, illness or other financial setback . . . When you can’t afford to...

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Why Today’s Mortgage Debt Isn’t a Sign of a Housing Market Crash

Written by Marathon Florida Keys Mortgage on November 25, 2024. Posted in Equity, Foreclosures, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Mortgage Rates.

One major reason why we’re not heading toward a foreclosure crisis is the high level of equity homeowners have today. Unlike in the last housing bubble, where many homeowners owed more than their homes were worth, today’s homeowners have far more equity than debt. That’s a big part of the reason why even though mortgage debt is at an all-time high, this isn’t 2008 all over again. As Bill McBride, Housing Analyst for Calculated Risk, explains: “With the recent house price increases, some people are worried about a new housing bubble – but mortgage debt isn’t a concern . . .” Today’s...

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Why Today’s Foreclosure Numbers Won’t Trigger a Crash

Written by Marathon Florida Keys Mortgage on October 24, 2024. Posted in Economy, Foreclosures, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

With everything feeling more expensive these days, it’s natural to worry about how rising costs might impact the housing market. Many people are concerned that high prices and tighter budgets could cause more homeowners to fall behind on their mortgage payments, leading to a wave of foreclosures. But before you start worrying about a housing market crash, here’s a look at what’s really happening. And the good news is: the latest foreclosure data shows there’s no wave on the horizon. How Today’s Market Is Different from 2008 Let’s ease those fears by looking at the bigger picture. The graph...

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3 Reasons Why We’re Not Headed for a Housing Crash

Written by Marathon Florida Keys Mortgage on August 2, 2024. Posted in Foreclosures, Infographics, Inventory, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights Back in 2008, there was an oversupply of homes for sale. Today, there’s an undersupply. The three main sources of inventory show this isn’t like the last time. Existing homes, new homes, and foreclosures are all way below the levels we saw during the housing crash. Inventory data shows there just aren’t enough homes available to have a repeat of what happened back in 2008.

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Why a Foreclosure Wave Isn’t on the Horizon

Written by Marathon Florida Keys Mortgage on July 23, 2024. Posted in Forecasts, Foreclosures, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Even though data shows inflation is cooling, a lot of people are still feeling the pinch on their wallets. And those high costs on everything from gas to groceries are fueling unnecessary concerns that more people are going to have trouble making their mortgage payments. But, does that mean there’s a big wave of foreclosures coming? Here’s a look at why the data and the experts say that’s not going to happen. There Aren’t Many Homeowners Who Are Seriously Behind on Their Mortgages One of the main reasons there were so many foreclosures during the last housing crash was because...

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Not a Crash: 3 Graphs That Show How Today’s Inventory Differs from 2008

Written by Marathon Florida Keys Mortgage on July 8, 2024. Posted in Economy, Foreclosures, Inventory, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Even if you didn’t own a home at the time, you probably remember the housing crisis in 2008. That crash impacted the lives of countless people, and many now live with the worry that something like that could happen again. But rest easy, because things are different than they were back then. As Business Insider says: “Though many Americans believe the housing market is at risk of crashing, the economists who study housing market conditions overwhelmingly do not expect a crash in 2024 or beyond.” Here’s why experts are so confident. For the market (and home prices) to crash, there...

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Foreclosure Numbers Are Nothing Like the 2008 Crash

Written by Marathon Florida Keys Mortgage on April 24, 2024. Posted in Foreclosures, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’ve been keeping up with the news lately, you’ve probably come across some articles saying the number of foreclosures in today’s housing market is going up. And that may leave you feeling a bit worried about what’s ahead, especially if you owned a home during the housing crash in 2008. The reality is, while increasing, the data shows a foreclosure crisis is not where the market is headed. Here’s the latest information stacked against the historical data to put your mind at ease. The Headlines Make the Increase Sound Dramatic – But It’s Not The increase the media is calling attention...

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Homeowners Today Have Options To Avoid Foreclosure

Written by Marathon Florida Keys Mortgage on March 19, 2024. Posted in Foreclosures, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Even with the latest data coming in, the experts agree there’s no chance of a large-scale foreclosure crisis like the one we saw back in 2008. While headlines may be calling attention to a slight uptick in foreclosure filings recently, the bigger picture is that we’re still well below the number we’d see in a more normal year for the housing market. As a report from BlackKnight explains: “The prospect of any kind of near-term surge in foreclosure activity remains low, with start volumes still nearly 40% below pre-pandemic levels.” That’s good news. It means the number of homeowners at risk...

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Why There Won’t Be a Recession That Tanks the Housing Market

Written by Marathon Florida Keys Mortgage on March 5, 2024. Posted in Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

There’s been a lot of recession talk over the past couple of years. And that may leave you worried we’re headed for a repeat of what we saw back in 2008. Here’s a look at the latest expert projections to show you why that isn’t going to happen. According to Jacob Channel, Senior Economist at LendingTree, the economy’s pretty strong: “At least right now, the fundamentals of the economy, despite some hiccups, are doing pretty good. While things are far from perfect, the economy is probably doing better than people want to give it credit for.” That might be why a recent survey from the Wall...

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There’s No Foreclosure Wave in Sight [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on February 2, 2024. Posted in Foreclosures, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights Headlines saying foreclosures are rising might make you feel uneasy. But the truth is, there’s no need to worry. If you look at the latest numbers, they’re still below pre-pandemic norms and way below what happened during the crash. If you’re worried about a flood of foreclosures, the data shows a foreclosure crisis is not where the market is today and is not where it’s headed.

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Foreclosure Activity Is Still Lower than the Norm

Written by Marathon Florida Keys Mortgage on January 31, 2024. Posted in Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Have you seen headlines talking about the increase in foreclosures in today’s housing market? If so, they may leave you feeling a bit uneasy about what’s ahead. But remember, these clickbait titles don’t always give you the full story. The truth is, if you compare the current numbers with what usually happens in the market, you’ll see there’s no need to worry. Putting the Headlines into Perspective The increase the media is calling attention to is misleading. That’s because they’re only comparing the most recent numbers to a time where foreclosures were at historic lows. And that’s making...

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Foreclosures and Bankruptcies Won’t Crash the Housing Market

Written by Marathon Florida Keys Mortgage on October 31, 2023. Posted in Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’ve been following the news recently, you might have seen articles about an increase in foreclosures and bankruptcies. That could be making you feel uneasy, especially if you’re thinking about buying or selling a house. But the truth is, even though the numbers are going up, the data shows the housing market isn’t headed for a crisis. Foreclosure Activity Rising, but Less Than Headlines Suggest In recent years, the number of foreclosures has been very low. That’s because, in 2020 and 2021, the forbearance program and other relief options were put in place to help many...

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Why Today’s Housing Inventory Shows a Crash Isn’t on the Horizon

Written by Marathon Florida Keys Mortgage on September 27, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

You might remember the housing crash in 2008, even if you didn’t own a home at the time. If you’re worried there’s going to be a repeat of what happened back then, there’s good news – the housing market now is different from 2008. One important reason is there aren’t enough homes for sale. That means there’s an undersupply, not an oversupply like the last time. For the market to crash, there would have to be too many houses for sale, but the data doesn’t show that happening. Housing supply comes from three main sources: Homeowners deciding to sell their houses...

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Don’t Expect a Wave of Foreclosures [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on August 18, 2023. Posted in Foreclosures, Infographics, Interest Rates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

Some Highlights With ongoing high inflation pushing up everyday costs, some people are worried that’ll create a flood of foreclosures. Here’s why that’s unlikely. Fewer people are seriously behind on mortgage payments right now. If foreclosures were going to rise a lot, more people would need to be late on their payments. Since most are paying on time, a wave isn’t coming. If you’re concerned about a flood of foreclosures, the data shows that’s not likely.

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Don’t Expect a Flood of Foreclosures

Written by Marathon Florida Keys Mortgage on August 16, 2023. Posted in Buying Myths, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Selling Myths.

The rising cost of just about everything from groceries to gas right now is leading to speculation that more people won’t be able to afford their mortgage payments. And that’s creating concern that a lot of foreclosures are on the horizon. While it’s true that foreclosure filings have gone up a bit compared to last year, experts say a flood of foreclosures isn’t coming. Take it from Bill McBride of Calculated Risk. McBride is an expert on the housing market, and after closely following the data and market environment leading up to the crash, he was able to see the foreclosures coming in...

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Four Ways You Can Use Your Home Equity

Written by Marathon Florida Keys Mortgage on August 7, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Foreclosures, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Move-Up Buyers.

If you’re a homeowner, odds are your equity has grown significantly over the last few years. Equity builds over time as home values grow and as you pay down your home loan. And, since home prices skyrocketed during the ‘unicorn’ years, you’ve likely gained more than you think. According to the latest Equity Insights Report from CoreLogic, the average homeowner has more than $274,000 in equity right now. That much equity can help you achieve certain goals. In a recent article, Bankrate elaborates: “While the pandemic created serious challenges, the silver lining for anyone who owned a home...

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Foreclosure Numbers Today Aren’t Like 2008

Written by Marathon Florida Keys Mortgage on July 24, 2023. Posted in Distressed Properties, For Buyers, Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

If you’ve been keeping up with the news lately, you’ve probably come across headlines talking about the increase in foreclosures in today’s housing market. This may have left you with some uncertainty, especially if you’re considering buying a home. It’s important to understand the context of these reports to know the truth about what’s happening today. According to a recent report from ATTOM, a property data provider, foreclosure filings are up 2% compared to the previous quarter and 8% since one year ago. While media headlines are drawing attention to this increase,...

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Why You Can’t Compare Now to the ‘Unicorn’ Years of the Housing Market [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on June 10, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

Some Highlights Comparing housing market metrics from one year to another can be challenging in a normal housing market – and the last few years have been anything but normal. In a way, they were ‘unicorn’ years. Expect unsettling housing market headlines this year, mostly due to unfair comparisons with the ‘unicorn’ years. Connect with a local real estate professional who can share the data that puts those headlines in the proper perspective.

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Today’s Real Estate Market: The ‘Unicorns’ Have Galloped Off

Written by Marathon Florida Keys Mortgage on May 30, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

Comparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market making the comparison less meaningful or accurate. Unpredictable events can have a significant impact on the circumstances and outcomes being compared. Comparing this year’s numbers to the two ‘unicorn’ years we just experienced is almost worthless. By ‘unicorn,’ this is the less common definition of the word: “Something that is greatly desired but difficult or impossible to find.” The pandemic profoundly changed real estate over the last...

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Why Today’s Housing Market Is Not About To Crash

Written by Marathon Florida Keys Mortgage on May 9, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

There’s been some concern lately that the housing market is headed for a crash. And given some of the affordability challenges in the housing market, along with a lot of recession talk in the media, it’s easy enough to understand why that worry has come up. But the data clearly shows today’s market is very different than it was before the housing crash in 2008. Rest assured, this isn’t a repeat of what happened back then. Here’s why. It’s Harder To Get a Loan Now It was much easier to get a home loan during the lead-up to the 2008 housing crisis than it is today. Back then, banks had...

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Why Today’s Foreclosure Numbers Are Nothing Like 2008

Written by Marathon Florida Keys Mortgage on April 27, 2023. Posted in Distressed Properties, Foreclosures, Housing Market Updates, Marathon FL Mortgage, Marathon Florida Keys Mortgage.

You’ve likely seen headlines about the number of foreclosures climbing in today’s housing market. That may leave you with a few questions, especially if you’re thinking about buying a house. Understanding what they really mean is mission-critical if you want to know the truth about what’s happening today. According to a recent report from ATTOM, a property data provider, foreclosure filings are up 6% compared to the previous quarter and 22% since one year ago. As media headlines call attention to this increase, reporting on just the number could actually generate worry and may even make...

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Here’s Why the Housing Market Isn’t Going To Crash [INFOGRAPHIC]

Written by Marathon Florida Keys Mortgage on March 17, 2023. Posted in For Sellers, Foreclosures, Housing Market Updates, Infographics, Marathon FL Mortgage, Marathon Florida Keys Mortgage, Pricing.

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Category: Foreclosures