Why are foreclosures so low?
Why are foreclosures so low? Because banks are only making loans to borrowers with strong credit!
In 2005, 40% of mortgages had adjustable rates… Less than 1% in 2021.
Also, a good number of homeowners have large amounts of equity in their homes. They can sell and make a profit before they have to take more drastic measures such as going through a foreclosure.