Lonestar Financing

Foreclosure Forecast: Record Lows!

Foreclosure isn’t a topic we’re fond of discussing. But the reality is that no matter how many precautions you’ve taken as far as savings and structuring loans, even the faintest idea of it can have homebuyers feeling a little shaky about investing in a home.

It’s understandable! It’s a big step that consist of a lot of little steps…kind of like those multipart questions you’d get in high school math, except you never had to rent a storage pod for your graphing calculator.

And the bubble of the late aughts is still fresh in people’s minds, ours too! But there is some good news to be had  here in the 20-teens. According to the Midyear 2017 U.S. Foreclosure Market Report, provided by Attom Data Solutions, foreclosures across the nation are down 22% from last year! If you remember your multiple-nested questions from high school stats, you’ll recognize that as a figuratively and literally statistically significant number.

Even in states where foreclosures technically went up from last year’s figures, the increase is still drastically lower than the year before! New Jersey and Connecticut are among the top 10 states with the highest rates of foreclosure in 2017, and while NJ’s foreclosures slowed from 8.53% to 1.8%, the Constitution State’s numbers are coming to an even more impressive short stop, falling from 44.75% to 3.19%!

To build further assurance, did you check out that list? Take a moment and open a new tab, but spoiler alert, you’ll notice that Texas is nowhere on it. People are really beginning to take charge of their situations, and keep their homes THEIR homes! Now that’s something to celebrate. If you’ve been holding back because of you’re afraid of making the same missteps others have, this is your chance to take the leap of faith because more and more people are succeeding! And with the right financing in place, it’s really no leap, but a well built bridge. Cross it with confidence.


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