Are a wave of HOME FORECLOSURES on the horizon?

Is there a wave of home foreclosures coming on the horizon?  When the pandemic hit in 2020, many experts thought the housing market would crash. They feared job loss and economic uncertainty would lead to a wave of foreclosures similar to when the housing bubble burst over a decade ago. The forbearance program change that. It provided much-needed relief for homeowners so a foreclosure crisis wouldn’t happen again. And here’s why forbearance worked. Forbearance enabled nearly five million homeowners to get back on their feet in a time when having security and protection of a home was more important than ever. Those in need were able to work with their banks and lenders to stay in their homes rather than go into foreclosure. As this graph shows, with modification, deferral, and workout options in place, four out of every five home owners in forbearance are either paid in full or are exiting with a plan.  The forbearance program was a game changer for homeowners in need.  And to go back and answer my initial question.. it’s one of the big reasons why we won’t see a wave of foreclosures coming to the market