General World News

Foreclosures are rising, but it’s not yet alarming

The real estate market is experiencing a slight rise in foreclosure activity following an extended period of moratoria that paused any foreclosures during the pandemic. The uptick in foreclosures could signal homeowner distress due to recent difficult economic circumstances but also account for foreclosures that were in the pipeline prior to the pandemic.

However, the foreclosure situation is not as serious as what we’ve seen in the past, since some mitigating circumstances are preventing a full-blown crisis. For one, the mortgage servicing industry adopted some COVID-era, rescue-type packages where a house does not go into immediate foreclosure. But more details ⇒

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