$\"One$ \n

Foreclosures are ticking up. And that may make your mind jump straight to thoughts of 2008 \u2013 specifically to what happened to the market during the housing crash. So, let\u2019s do exactly what your brain already wants to do, and see if there\u2019s any connection there.<\/p>\n

The simple truth is <\/strong>foreclosure filings<\/strong><\/a> are <\/em>rising. But they\u2019re nowhere near <\/em>crisis levels. And that\u2019s not where they\u2019re headed either. Here\u2019s why.<\/strong><\/p>\n

Take a look at serious delinquencies<\/strong> \u2013 loans where the homeowner is more than 90 days late on their mortgage payments.<\/p>\n

While those have increased slightly, data<\/a> from the New York Fed <\/em>shows they still remain low. And they aren\u2019t anywhere close to levels seen when the market crashed (see graph below)<\/em>:<\/p>\n

$\"a$ <\/a>Right now, about 1%<\/strong> of mortgages are seriously delinquent. That\u2019s only 1 in 100.<\/strong><\/p>\n

In the years around the crash, they were up around 9%<\/strong>. That\u2019s 1 in 11.<\/strong><\/p>\n

That\u2019s a big difference.<\/p>\n

And it\u2019s important to remember not all delinquencies even become foreclosure filings. Some homeowners who are falling behind will work out repayment plans with their banks and lenders because banks don\u2019t want to see a wave of foreclosures either.<\/p>\n

That\u2019s why foreclosure numbers are even lower than delinquencies. ATTOM <\/strong>shows<\/strong><\/a> only 0.3% of all homes are currently going through a foreclosure filing.<\/strong> And those won\u2019t even all go to a full foreclosure. That\u2019s not a wave. That\u2019s a ripple at most.<\/p>\n

If People Are Falling Behind on Payments, Why Aren\u2019t There Even More Foreclosures?<\/strong><\/h4>\n
And maybe you\u2019re wondering, if people are struggling financially, why aren\u2019t there more foreclosures? Here\u2019s the easiest way to answer that.<\/p>\n
When households feel financial pressure, they tend to prioritize their mortgage payment above almost everything else. Because the last thing they want to lose is their home.<\/p>\n
Data<\/a> from the New York Fed <\/em>shows serious delinquencies have risen more for credit cards and auto loans (the blue and green lines<\/em>). But mortgage delinquencies and home equity lines of credit (borrowing against the value of your home) aren\u2019t seeing the same big uptick (the yellow and orange lines<\/em>). They\u2019re a lot more stable overall.<\/p>\n
In other words, people may fall behind on other debts, but they fight hard to keep their homes. And, in today\u2019s housing market, they\u2019re also in a strong equity position to do so.<\/strong><\/p>\n
Home Equity Changes Everything<\/strong><\/h4>\nMany people have built significant equity<\/a> over the past several years. And that creates options. As Daren Blomquist, VP of Market Economics at Auction.com<\/em>, explains:<\/p>\n
\u201cDistressed homeowners\u2026 many times they still have equity in their homes. There\u2019s an opportunity for them to sell that home, avoid foreclosure, and walk away with equity.\u201d<\/em><\/p><\/blockquote>\n
That\u2019s a major difference from 2008. Back then, many homeowners owed more than their homes were worth. And selling wasn\u2019t an easy solution. Today, for many people, it is. And even in situations where equity isn\u2019t enough, homeowners are encouraged to contact their loan servicer early to explore alternatives to foreclosure.<\/p>\n
Bottom Line<\/h3>\n
Are foreclosure filings rising slightly? Yes. Are they anywhere near crash territory? No. And homeowners today have far more equity and flexibility than they did during the crash.<\/p>\n
If you\u2019re concerned about what you\u2019re seeing in the headlines, the best move isn\u2019t panic<\/em><\/strong>, it\u2019s perspective<\/em><\/strong>. And the data right now says this isn\u2019t 2008 all over again.<\/p>\n<\/div>\n\n<\/body>","protected":false},"excerpt":{"rendered":"
Foreclosures are ticking up. And that may make your mind jump straight to thoughts of 2008 \u2013 specifically to what happened to the market during the housing crash. So, let\u2019s do exactly what your brain already wants to do, and see if there\u2019s any connection there. The simple truth is foreclosure filings are rising. But […]<\/p>\n","protected":false},"author":1,"featured_media":6306,"comment_status":"registered_only","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12],"tags":[29,27,20,18,28],"class_list":["post-6305","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-insight","tag-idaho-real-estate","tag-north-idaho-homes","tag-rain-silverhawk","tag-real-estate","tag-sandpoint-idaho"],"aioseo_notices":[],"acf":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/sandpointrealtyidaho.com\/blog\/wp-content\/uploads\/2026\/03\/Header-Image-GettyImages-1192429034-original.png?fit=750%2C410&ssl=1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pdz2Zu-1DH","_links":{"self":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/6305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/comments?post=6305"}],"version-history":[{"count":0,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/posts\/6305\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media\/6306"}],"wp:attachment":[{"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/media?parent=6305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/categories?post=6305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sandpointrealtyidaho.com\/blog\/wp-json\/wp\/v2\/tags?post=6305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}