New Foreclosure Crisis 2021 | NEW Mortgage Forbearance Expiring

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Is a foreclosure crisis 2021 imminent?

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Right now, there are more than 2.7 million homes under the protection of the federal mortgage forbearance and foreclosure moratorium programs… and more than half of those will expire in March, April, May, and June.

Or… at least they were.

THIS JUST IN!

President Biden extends the Mortgage Forbearance and Foreclosure Moratorium programs through June 30th, but will that be enough to stop the tsunami of foreclosures headed our way in 2021? And will that tsunami be big enough to cause a Foreclosure Crisis 2021?

Those are the housing market forecast questions posed in this video, and the answers, too!

Timestamps:
1:14 – Why it’s so difficult to plan ahead right now as a homeowner or investor.
1:32 – How one couple’s circumstances reflects the hardship faced by so many of today’s homeowners.
2:40 – What the mortgage forbearance and foreclosure moratorium extensions mean for homeowners, and which lending agencies are affected.
3:48 – What the high demand for foreclosures means for the housing market going forward.
4:22 – Why the coming foreclosure crisis may be significantly different than what you are currently expecting.
7:00 – Why real estate prices will most likely continue to rise throughout 2021.
7:22 – What investors and home shoppers need to do to find properties, and why a foreclosure crisis 2021 may simply pass us by without doing much harm at all.

————-

My name is Matt Theriault. When aspiring, frustrated investors are stuck in the proverbial “rat race,” they come to me.

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The contents of this video are for informational and educational purposes only. They should not be considered investment, financial, legal or tax advice. Matt Theriault is not licensed in the insurance or securities industries and is not in the business of selling, soliciting or negotiating the sale of any insurance contract, security or other investment vehicles.

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46 comments

  1. I’m not buying anything. Waiting until the inevitable crash. You didn’t even mention commercial real estate which is imploding as we speak.

  2. people please do your own research and I believe everything people tell you. You need to find out in your state each state has different…. Law and protection so please
    do your research some states are protected even until December so please educate yourself…. Do not go by everybody on YouTube and believe what they say. As transparent

  3. The number during the crash in 2007 & 2008 was about 3 million.
    It’s over 11 million today.
    The government needs to simply pass a law of forgiveness. Instead of a 30 year loan, it’s now 31. Everyone would be current, banks eventually get paid, everyone goes home happy.

  4. Majority are gaming the system with those forbearance programs. Its all BS

  5. My prediction, homes foreclosed on, owned by the government, people can rent their homes from the government, low income will have subsidized rent. The new normal?

  6. You cannot just “refinance”. Due to the slow economy, the banks will only pick those who they want to approve for refinancing. Remember even if there is a moratorium for foreclosures, there isn’t any for credit scores. If you missed payments on your debts, you might have accumulated interests so your DTR is higher. Your credit score will also be lower. The bank may not take a risk for someone with a high DTR, low credit score..

  7. I wish someone could tell me what to expect when the American economy falls. We are a retired couple and receive Social Security.. will we continue to receive our Social Security checks if the economy falls?

  8. I highly suggest you lay it to rackzhack__ on Instagram I enjoy working with him and trusted-%.

  9. I highly suggest you lay it to rackzhack__ on Instagram I enjoy working with him and trusted-%.

  10. What do viewers of this video think of putting a cap on real estate prices rising? There used to be laws restricting price hikes to prevent bubbles and keep the market fair. I know it's a nice way to make passive income, my father is an investor, but it seems to be growing concern with my generation. Cheers!

  11. I don't think your right 🤔 I think first homes to hit the market will be rentals that people are behind in payments from not receiving rent for a year. Then it will be conventional loans, then FHA loans. By the time FHA loans are on the market the prices will be in the toilet. The only reason for a high housing market is lack of supply. There are very few qualifying buyers now as UE is so high. High supply low demand low price. I just sold one of my rentals and I know a lot of landlords selling right now.

  12. I feel the people that covid affected was mostly last yr that being said the smart ones are selling there house making more money with high house prices to down size to a cheaper house with lower interest. Now the other half sitting on there house hoping to save it most likely will because of all the grants and help also like u said they can refinance which will help a ton. With that being said there won't be a crash or crisis as much as we think. But people like me renting still employed my rent went up to my aprt. House prices are high we have 2 high car payments we can't get approved to even buy a f*cking tree. I am freaking out a bit because I know cost of everything is going to go up along with rent again and its going to have us stuck here struggling so I am trying everything to get into a house now while I have stimulus money saved up lol

  13. Greed takes over why is there not a law that puts people that want to buy a home to live in trump's those that just want to make money flippers I dont get it when greed overcomes the people in need ??

  14. The sugar high low inventory covid real estate market will go KABOOM soon!!

  15. An economy opening up and things returning to normal is a probability under a normal scenario. The policies of this Biden administration will kill the economy even more. Once the idiots running the Govt realize they can’t control runaway inflation, it’s going to make things worse. Every time the Govt start rigging the system, it destroys everything that was doing well. This administration is no exception. Continue to save and wait it out. Don’t worry, there will be plenty of homes available in about 18-24 months. Many can’t sell because there’s nowhere to go. Unless you have cash, bidding on a home is pointless. Lots of home occupants are in forbearance intentionally but will pay dearly when the moratorium ends. A lot of these people will have to go to alternative housing due to bad credit. See how that works? Foreclosure is a long process and when court being conducted by zoom, so will take years to get through the process, so the occupants stay until evicted. What a mess.

  16. 2.6 mil in forbearance 11 million unit shortage…the foreclosures won't even happen now till early 2022…and new builds slowed to a trickle due to material shortage….my 5 homes in Utah doubled in value in the last 12 months..this bubble aint popping any time soon

  17. You make a lot of assumptions here. The market is going to tank unless we switch to socialism. Barring huge governmental controls on the market, capitalism dictates a correction. The longer we kick the can down the road, the higher we build the sandbag wall, the bigger the pressure behind the wal becomes. This is the intention of those in power now. Drive the economy to a point where everyone cries to the government to fix things. Instead of letting the market run its course. We are headed towards socialism and a government controlled economy like never before. And people refuse to see it.

  18. So the guys lazy wife used Covid as an excuse to not pay her mortgage oh ok.

  19. I hate the idea of anyone losing their home but the extensions are making it difficult for people like me that have good credit to have any chance of buying a house this year. I know people who are making unemployment money, refusing to get a job and have their mortgage in forbearance for 18 months without paying a single cent. What a mess.

  20. The real crisis is the people buying the over priced homes right now. These people will have no options as their mortgages go upside down.

  21. Even if the Government steps in and pays all arrears it is no big deal , lets say 20k per loan x 2,700,000 , = 54 Billion , whats another 54 Billion on top of 1.9 Trillion

  22. Nobody could ever guess that was going to happen. New York is stealing em.

  23. Ha, why don’t you home price experts ever mention the cost of insurance? I now have to pay about $10,000 per year for house insurance. And it’s not great insurance.

  24. There will be a wave of foreclosures but there's so many people waiting to buy that there won't be a crash like 08. Especially here in TX. Bought my house for 168k (foreclosure on an affluent side of town) back in 2014, I could list it for 300k easily and buyers will come in and overbid minimum 15k, especially for the area I live in. At this point, the market is overvalued so a much needed correction is coming, maybe a bit of a dip. But Texas has so many rules and regulations for real estate that actually saved us from the 08 crash, that a correction and somewhat of a dip is all we'll see down here. Making sure I have the credit and cash needed to make my move so that I can be ready because there will be many others like myself who will take advantage of this opportunity.

  25. They can't keep interest rates low forever this is going to create inflation. The foreclosures are coming once the mortgage forbearance goes away. There is a backlog of foreclosures and evictions right now.

  26. 2.7 Million in Forbearance. 10.1 million home owners are delinquent. Evictions are rolling because people cant pay. JOBs are low!! and Interest rates are LOW! Sounds like a BIG POP is going to happen. Quantitative easing is Killing the Dollar. That's a wrap. I give it to JUNE. Prices will come down and inventory will flood the market.

  27. Translation, he is going to continue making a ton of money by encouraging buyers to join the bidding war for the ridiculously low inventory on the market.

  28. The longer Biden extends the forbearance more money is owed,which means more homes will be sealed to forclousure and renters will owe thousands on back rent… the apartment complex owners could lose their properties too… what a mess…

  29. I'm told most people on forbearance can't sell their home though. Not enough equity? Any deets appreciated?

  30. Things are bad as they ever were 868,000 initial jobless claims? That’s bad bro.

  31. I don’t think a lot of these people are upside down so rather then for foreclose they will just sell. Also with the Democrats controlling all 3 branches of government it’s likely that they will extend these types of policies.

  32. The market in 08' was red hot too, until it wasn't..Foreclosures, renters not paying, 15 dollar a hour for workers to put a knife in the back of what is left of the restaurant industry, commercial real estate following, then stock market drops 30% when you w as keep up…Crash is virtually guaranteed, just not sure when.There is no if. America will pay for it's financial ignorance!!! I think we might have about 18 months if lucky.

  33. “Jump in aggressively ?” That’s exactly what is causing these bidding wars and prices rise ridiculous. All this equity is relative, if prices go down then all this equity will simply vanish. Lets hope thar your right, and that tsunami turns out to be a splash in the ankles. Otherwise all these buyers that are getting sucked in this . Jump in aggressively market will end up underwater and will part of the static of bank repos.

  34. we could see a downturn sometime at the end of this year or early next year. The government tried to kick the can but the longer they do that the worse is gonna get. The homeowners are not only paying the monthly mortgage. They also pay taxes & insurances on their homes as well. If you didn't pay that last year during the pandemic was started. That bill could become huge. I just don't see how the banks can keep this music for long. They can foreclosure the homes and turn around sell them at a higher price. The real estate market will never be the same anymore once we get this downturn. The interest rate will continue to rise sharply in the decade to double digits. I don't see how real estate price will go up again when the interest rate at 10%+ in the next decades