Foreclosures are up. Here’s why experts aren’t worried
By Andrew Dehan, Bankrate.com
If you remember the turmoil of the global financial crisis, hearing that foreclosure activity is up might make your knees weak and palms sweaty. I know I can’t help it.
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After reading recent reports of climbing foreclosures, I spoke with experts ranging from real estate data companies to non-profit debt counselors to foreclosure auction sites. Their opinion? The national foreclosure rate is still quite low.
So take a deep breath. This isn’t 2008. The housing market isn’t about to crash. The picture is much more complex than one statistic lets on. Here’s why they aren’t panicking and neither should you.