Is Trouble Brewing? Six Million Americans Are LATE on Mortgage Payments
Millions of Americans are falling behind on their mortgage payments, signaling potential trouble for the housing market. A new study from Deeds.com, based on U.S. Census Bureau data, reveals that over 6 million homeowners are late on their mortgage payments, while 9.4 million renters are struggling to pay rent. Rising interest rates, soaring insurance costs, and inflation outpacing wages are pushing more people to the brink of financial distress. In this episode, we break down which states are seeing the highest delinquency rates, why homeowners are forgoing insurance, and how skyrocketing property taxes and insurance premiums are now surpassing mortgage payments in many areas. We also discuss what this means for real estate investors—whether foreclosures are on the horizon, how to identify distressed properties before they hit the market, and strategies for negotiating deals with struggling homeowners. Is another housing crisis brewing? Tune in to find out what’s happening behind the numbers and how you can prepare for the shifting real estate landscape. Subscribe to the BiggerPockets Channel for the best real estate investing education online! Become a member of the BiggerPockets community of real estate investors - https://www.biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices