November 11, 2021 at 2:50pm | Julie Hayward

Will foreclosures affect the value of your home when they hit the market?

People are starting to come out of the forbearance agreements they made last year during the pandemic, meaning that they need to repay their lenders what they owe. Around 44% of those people can repay what is owed in full, 38% are on some sort of repayment plan with their lender, and 17% of those people aren’t going to be able to pay their mortgage, meaning their houses will go into foreclosure eventually.

Right now, the banks have put a moratorium on foreclosures, but we know that the market can’t stay like this forever. For sellers, this won’t affect the pricing of their homes because the foreclosures that are coming on the market typically do so at market value. That’s also good news for buyers, as they’ll have more options to choose from.

If you have any questions about foreclosures, the market, or real estate in general, don’t hesitate to give us a call or send an email. We’d love to hear from you.



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