Why Real Estate Investors Shouldn’t Expect A Repeat Of 2008

Executive Vice President at RealtyTrac, the leading source of distressed property data for investors and real estate professionals. 

Historically, there’s been a strong correlation between unemployment and foreclosures. Job loss typically results in mortgage delinquencies – which ultimately lead to foreclosures. Given the number of jobs lost during the Covid-19 pandemic, many people may be expecting to see foreclosure activity reach – or even surpass – the record levels seen during the Great Recession.

But this recession is different from prior ones, and there’s strong evidence that suggests that the level of foreclosure activity it causes may be different as well.

Won’t Record Unemployment Lead To Record Levels Of Default?

The Covid-19 recession was unprecedented in its speed and severity, as the government issued shelter-in-place orders in an attempt to slow down the spread of the disease. Unemployment rates skyrocketed, and nearly 50 million Americans have filed for

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What to Expect if You Have a Broken Lease With an Apartment

I have a broken lease!

The vast majority of apartments will not work with you if you owe another rental property money or break a rental lease. The properties that will work with you have different qualifying criteria. Almost without exception the property will want to know you have re-established your rental history. A few of them will want extra deposits and it's usually dependent on how much you owe the property you broke your lease at. Apartments can go back to the beginning of time when verifying rental history. Even owing a property 10 years ago can easily get you denied.

I have a broken lease out of state!

Once a broken lease is reported to the credit bureau it will show up no matter where you are. If you owe a property money most of them will not work with you. In effect a broken lease out of … Read More