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Foreclosure News: Buyers Enter Housing Market Despite COVID-19

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With the global equity markets in distress, an unexpected financial sector has started to heat up amid the COVID-19 ("CV") pandemic, housing sales.

Pending home sales spiked a stunning 44.3% in May compared with April, according to the National Association of Realtors. That is the largest one-month jump in the history of the survey, which dates to 2001. It beat expectations of a 15% gain. Sales were still 5.1% lower compared with May 2019.

However, the Foreclosure and Eviction moratoriums enacted by the Federal and State Governments are set to expire in August. It is uncertain if further relief or delays will be enacted. Either way, mortgage defaults have already begun to sky-rocket.

If you are behind in your mortgage or feel as though you will soon become delinquent, please contact the Foreclosure Defense Attorneys at Fazzio Law, we are in your corner!

Category: Foreclosure Law

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