• Amiri Real Estate

Shock in the Housing Market

Updated: Sep 11, 2021

At the peak of the pandemic over 7.2 million homeowners were enrolled in the mortgage forbearance program. This allows some borrowers to pause their payments. With the economy rapidly recovering the Biden-Harris administration has made it clear it has no plans for another extension. The current extension is set to lapse on Sept. 30. Where does that leave the 1.7 million homeowners that are enrolled?

While the situation may look grim, don't expect a sudden wave of foreclosures. The majority of these struggling homeowners have positive home equity. So if walking away is the best option most will choose accordingly. Inventory shortage where?

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