05/13/2026
You’ve probably seen the headlines lately saying “foreclosures are rising” and immediately thought… here we go again 😳
But this is NOT 2008.
Yes, foreclosure filings are up compared to the last couple years, but what the headlines aren’t telling you is that the last few years were NOT normal because of the pandemic foreclosure freeze. When you compare today’s numbers to a normal market before COVID, we’re actually still below typical levels.
The biggest difference between now and 2008? EQUITY.
Most homeowners today have built a significant amount of equity in their homes. The average homeowner is sitting on around $295,000 in equity. Back in 2008, many homeowners owed MORE than their homes were worth, which left them with very few options.
Today, even if someone is struggling financially, many homeowners can still sell, protect their credit, pay off debt, and potentially walk away with money in their pocket instead of losing their home.
Also - just because someone falls behind on payments does NOT automatically mean foreclosure. Banks would much rather work out a solution than take a home back. There are repayment plans, forbearance options, loan modifications, and other paths available.
The biggest thing? Don’t ignore it early if you’re struggling.
And if you’re unsure what your options are, reach out to me! I can help guide you through it or refer you to someone who can, before it becomes overwhelming. 🤍
The market is shifting and normalizing - not crashing.
📲 206-981-6313
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