August 18, 2024
Avoid These 4 Mistakes After Applying for a Mortgage
An in-depth look behind Florence’s rising post-pandemic foreclosures.
If you’ve heard about the uptick of foreclosures in Florence, you must be wondering, “Will this become another crisis?” Fortunately, the short answer is no. While we have seen an increase in foreclosures in Florence and in the U.S., the reason lies behind the coronavirus pandemic and how it continues to affect homeowners to this day.
The increase in foreclosures are mainly due to the lifting of moratoriums from the pandemic, when homeowners were unable to pay their mortgages because of the major economic crisis resulting from the nationwide lockdowns. However, despite the increase in foreclosure rates, they still remain below pre-pandemic levels and are significantly lower than the peak seen during the 2008 housing crisis.
So, if you want to know more about the rise in foreclosure rates in Florence or nearby areas, don’t hesitate to reach out to us for accurate and reliable information. Just call 843-667-0233 or visit our website at http://www.crossonadnco.com for more details. I look forward to hearing from you!
