Foreclosures Are Rising — But This Is Not a Housing Market Crash
You’ve probably seen the headlines.
“40,000+ foreclosure filings.”
“Foreclosures up again.”
“Is the housing crash starting?”
Let’s slow this down.
Foreclosure filings are rising year over year. That part is true.
But rising foreclosure filings do not mean the housing market is crashing.
And that distinction matters.
Because panic spreads faster than context.
What 40,000 Foreclosure Filings Actually Mean
A foreclosure filing is not an auction.
It’s not a bank takeover.
It’s not a neighborhood full of boarded-up homes.
A foreclosure filing means a loan reached a certain stage in the missed payment timeline.
That’s it.
Many of those homes:
- Still have equity
- Get sold before auction
- Enter repayment plans
- Qualify for loan modifications
- Resolve through short sale
A filing is a stage in a process, not the end of the road.
When people hear “40,000 homes,” they picture a flood of inventory hitting the market and collapsing prices.
We are nowhere near that.
That kind of flood is what shifts a seller’s market into a buyer’s market.
That is not what this data shows.
Why Foreclosure Numbers Rise in Waves
Foreclosures don’t begin the month life gets tight.
They begin months later.
Most homeowners who show up in foreclosure statistics didn’t wake up one morning unable to afford their home.
Usually, it looks like this:
Insurance goes up.
Groceries cost more.
Car repairs happen.
Credit card balances grow.
You move money around.
You plan to catch up next month.
Meanwhile, the mortgage timeline keeps moving.
Foreclosure typically escalates after multiple missed payments — often around the third missed payment, depending on the state and lender.
That means the filings you’re seeing now started months ago.
The headlines feel sudden.
The timeline wasn’t.
Rising Filings Do Not Equal Market Collapse
This is the part being missed online.
A housing market crash requires a large volume of distressed inventory flooding the market and overwhelming demand.
That’s not happening.
Many of the homes in foreclosure still have equity.
Homeowners with equity can:
- Sell before auction
- Walk away with money
- Pay off arrears at closing
Even homeowners who are underwater often have options, including:
- Loan modification
- Forbearance
- Short sale
Foreclosure filings represent stress in certain households, not systemic market failure.
There is a difference.
What Actually Matters: Your Timeline
Instead of asking “Is the market crashing?”
The better question is:
Where are you in your mortgage timeline?
If you’re current, the focus is staying current.
If you’re close to missing a payment, addressing it early gives you more flexibility.
If you’re already behind, understanding your stage matters more than guessing.
Because the difference between recovery and foreclosure is usually timing, not headlines.
The Real Risk Isn’t the Market
The real risk is assuming you still have time without knowing where you stand.
Most homeowners who end up in foreclosure believed they would catch up before it mattered.
They didn’t realize when it started to matter.
You don’t need to panic.
But you do need clarity.
If you’re not sure where you are in the process or what your options look like in New York or New Jersey, you don’t have to figure it out alone.
You can schedule a call and we’ll walk through your specific situation calmly and privately.
Because this isn’t about a crash. It’s about timing.
Watch next: What NOT to Say to the Bank After Missed Mortgage Payments: https://youtu.be/ogKmRa56q5Y
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