“The likelihood of us having a foreclosure crisis again is about zero percent.” – Ivy Zelman
4 Reasons Households in Forbearance Won’t Lose Their Homes to Foreclosure
The reports of massive foreclosures about to come to the market are highly exaggerated, according to Ivy Zelman.
What Happens When Homeowners Leave Their Forbearance Plans?
Banks likely don’t want to repeat the mistakes of 2008-2012 when they put large numbers of foreclosures on their books. This time, many will instead negotiate a modification plan with the borrower, which will enable households to maintain ownership of the home.
Will Forbearance Plans Lead to a Tsunami of Foreclosures in 2021?
Today, almost three million households are actively in a forbearance plan. Though 29.4% of those in forbearance have continued to stay current on their payments, many have not.