Foreclosure Rate Lowest in Over Two Decades

Today there are 400,000 homeowners in their final month of forbearance and another 1.2 million still in the program as it winds down, thus, it is probably way too early to conclude that the nation has a ducked a pandemic foreclosure bullet, However, the CoreLogic report on June’s loan performance suggests we might just pull it off. The company says the U.S. foreclosure rate in June was the lowest in over two decades. Not a surprise as the national moratorium on bank repossessions was in force until the end of July. However, other metrics in the report indicate that homeowners may emerge from the pandemic financially damaged but with homeownership largely intact.