One Million American Homeowners Fear Losing Their Homes To Foreclosure In The Next 60 Days

One Million American HomeownersOne million American homeowners are worried. Thanks to high home prices and inflation.

These two things are making it difficult for households to afford necessary expenses.

As a result, some people are falling behind on their mortgage payments. Thus, they could be facing foreclosure. 

LendingTree analyzed the latest data from the U.S. Census Bureau Household Pulse Survey. The survey determined who is at immediate risk of losing their homes.

Most American homeowners are facing the threat of foreclosure in the near future. However, nearly 1 million Americans nationwide fear losing their home to foreclosure in the next two months. This is shocking!

Key Findings About These One Million American Homeowners:

  • Only 3.71% of homeowners are behind on their mortgage payments. The share of homeowners caught up on their payments is 60.43%. However, an additional 35.47% don’t need to make payments because they own their homes free and clear.
  • 19.62% of delinquent homeowners likely to leave their home due to foreclosure in the next two months. Again, only 3.71% of households nationwide aren’t current on their housing payments.
  • South Dakota, Oregon and New Mexico have the largest share of homeowners behind on their mortgages. An average of 55.45% of delinquent homeowners say they are very likely to leave their home due to foreclosure in the next two months. However, homeowners in these states, only 3.42% report being behind on their mortgage payments.
  • An average of 2.81% of homeowners report being behind on their mortgage payments in Nevada, Kentucky and Idaho. However, homeowners in these states don’t feel they will lose their homes to foreclosure in the next two months. Our study is based on self-reported survey data, so it doesn’t mean there are absolutely zero people in these states at risk of losing their home to foreclosure.

Read More About Foreclosures On MFI-Miami

Write A Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ready to get started?

Speak to a specialist at (888) 737-6344

Translate »