Forbearance Numbers Are Lower Than Experts Forecasted

Forbearance Numbers are lower than experts forecasted. Many experts feared forbearance would climb to nearly 30% this year, leading to a wave of foreclosures. That Didn't happen. Odeta Kushi, Deputy Chief Economist, First American said “Forbearance did not hit 30%, but rather peaked at 8.6% and has been steadily falling since.” According to recent data, the number of homes in forbearance has been steadily declining since May (5/29 at 4.76 million to 8/14 at 3.93 million). With active forbearance dropping and the strong equity Americans have in their homes today, we won't see high levels of foreclosures like we did during the Great Recession. If you have questions about your options, let's connect to help with the guidance your family needs. Tami Savage 727-282-4390 or email.