5.5% of CA HOMEOWNERS ARE NOW IN DEFAULT ON THEIR MORTGAGES

Robert Smith-Adams
Robert Smith-Adams
Published on September 4, 2020

Let’s talk about the truth shall we?

The OC register published an article this week stating 5.5% of CA homeowners are now in default in their home loans. ⁣⁣⁣⁣But here’s the fine print:

⁣⁣⁣⁣❎Mortgage delinquencies were at 1.8% prior to Covid in CA.

⁣⁣⁣⁣❎ A healthy real estate market has only a 1% default ratio (1 out of every 100 homes in default). Our delinquencies were almost double the healthy range.

⁣⁣⁣⁣❎ 40% of mortgage loan servicers do NOT have to report their loan defaults ratios (and many of them do not).⁣⁣⁣⁣

What does all this mean?

Our real estate market was already showing signs that it was headed for a cyclical recessionary period. Covid simply added kerosene to a fire that was already starting to show signs of smoke.

⁣⁣Stay tuned next week! Robert is going to talk about WHY our real estate marketplace is being artificially “stimulated” right now and creating a false narrative of stability.

⁣⁣⁣⁣#orangecountyrealtor #wesellhouses #localrealtor #orangecountyrealtorestate #listingagent #shortsale #shortsales #moveinready #timetosell #socalrealestate #assetmanagement #wealthbuilding #investing #accountmanager #investors #investments #trading #realestateinvesting #foreclosure #losangelesrealestateagent #nrba #hedgefund #goodbroker #investorspecial #stopforeclosure #sellwithme #economy #adamsfamilyres #exprealtyproud ⁣⁣

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