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Beware Of Media Lies

Ron Pepka

Ron can be described as the “Rock” that every successful business needs...

Ron can be described as the “Rock” that every successful business needs...

Aug 12 2 minutes read

Extra! Extra!  Foreclosures Up 440% Year Over Year!

(Total Bulls***)

Black Knight is reporting that foreclosure starts were up 440% in June – year over year!

They were up almost 27% month-over-month too!

So – should we panic???? Is a foreclosure crisis upon us?

Not even close.

Foreclosure starts (the start of foreclosure proceedings) are through the roof, year-over-year because there was a moratorium on foreclosures last year – and we were at an all-time low!

So, my response to Black Knight is good gravy – you’re totally misleading everyone.

No Foreclosure Crisis Coming!

There is no foreclosure crisis coming and this is why: EQUITY!!

The average loan-to-value ratio in America is only 42% right now, and no borrower is going to walk away from her home if she has a big chunk of equity.

As a reminder, it was not just payment affordability that drove the last foreclosure crisis; it was the lack of equity too, as borrowers simply did not want to make payments against an upside-down asset.

Only 3/10 of 1% (0.3%) of all homes are in foreclosure right now  |  Up from an all-time LOW of 2/10 of 1% (0.2%).

In addition, the foreclosure activity in the first half of this year is literally 1/10 of what we saw in the first half of 2010, for example.

Beware of Media Lies!

This chart from ATTOM Data says it all  |

We are not even close to a crisis.

Atttom Data First Half Of 2022

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