Lenders’ mortgages keep mortgages at an unprecedented low level.
Only 11,281 notifications of house confiscation were registered in February. 77% less than last year, according to the latest report from Attom Data Solutions.
“Extensions from the CARES Act mortgage lending program continue to keep property foreclosures historically low,” said Rick Shargan, executive vice president of RealtyTrac at Attom Data Solutions. “These actions by the government, as well as the efforts of lenders and mortgage companies, have helped millions of homeowners avoid foreclosure as a result of a one-year global epidemic of a recession that has lost 22 million jobs.”
Because of the COVID-19 epidemic, some 2.6 million U.S. homeowners are still paying off lenders.
National creditors reclaimed 1,545 properties through completed foreclosures.
While housing analysts expect an increase in foreclosures when lenders’ tolerance programs end, the huge rise in home values over the past year will make it easier for troubled mortgage lenders.
According to CoreLogic, homeowners across the country had more than $ 1.5 trillion in 2020. It was the biggest such profit in seven years. The average homeowner saw a share of $ 26,300 in 2020, the difference between the value of the property և և debts:.
“Positive factors, such as record low interest rates and housing market growth, have helped many families become homeowners,” said Frank Martel, CEO and CEO of CoreLogic. “This growing bank of personal wealth, which allows homeowners, has been noticed by many, but especially first-time buyers who want a piece of cake.”