Economic downturns increase foreclosure risk, particularly for households dependent on single income sources, as job loss can quickly lead to financial instability and mortgage default.
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Foreclosures Are Starting to Rise 📉🏠 #shortsAdded:
That's right. So, as a lender, have you seen a lot of foreclosure popping up with past client, current client, or other some of investor than you working with? Well, I wouldn't say that I've seen a lot, but I have seen it on the rise. It has been more than normal.
Uh with the state of the economy and the way things are going right now, I think people are are real tight positions.
And um you know, you start losing your job, you might have a situation where it's one income coming in, and that can be devastating when it comes to the US household.
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