Is There a Big Wave of Foreclosures?

Today we're going to talk about foreclosures. There are a lot of cracks in the economy, interest rates have tripled over the past 12 months, and people want to know if foreclosures are on the rise. 

Put simply, the answer is no. In 2021, there were 151,000 filings for foreclosures across the United States. Guess how many foreclosures there were back during the Great Recession? There were 2.8 million foreclosure filings at the peak of the recession. Foreclosures are actually at an all-time low. Now, I would expect that over the next 12 to 24 months, we will see them rise, but it will be insignificant compared to what we saw during the Great Recession in 2008 and 2009.

If you’re looking for foreclosures, we can help you sort through all the different websites that send you tons of properties to help you figure out which ones are actually in distress. We can send you a specific list of these foreclosures so you don't have to spend countless hours trying to find them online. Just reach out to us via email or call us, and we'll send you a list of foreclosures and short sales. Let us know if you want to see that list or if you have any other questions.