Foreclosures hit highest level since 2019, sparking interest from bargain hunters
Foreclosures Hit Highest Level Since 2019, Sparking Interest From Bargain Hunters
In recent years, mortgage servicers have been willing to work with borrowers to help them avoid foreclosure, and many homeowners in trouble could take advantage of strong market conditions to sell before losing their homes. That means the hefty discounts seen in today's foreclosure sales may reflect the home's condition, said Andy Walden, head of mortgage and housing market research at Intercontinental Exchange.
"Those properties may be more distressed than normal," Walden said.
A Complex Process
Candess Correll, a real estate agent working in the Washington, D.C...