I wish I had better news for you, but this one is a doozy for Houston.

An analysis on the number of homes with Federal Housing Authority loans shows that the Houston/The Woodlands/Sugar Land housing market is the second worst in the country for homes in danger of foreclosure.

MEANWHILE: Houston’s only Frank Lloyd Wright house is on the market

The American Enterprise Institute analyzed Federal Housing Authority data and claims that 40,147 Houston families are delinquent on their mortgages as of May. Of those, nearly 30,000 are 90 days past due.

The rate of delinquent mortgages in Houston fell from 19.3 to 18.8 percent from 2019 to 2020, a positive sign among the fray.

The only metro area with a higher number of delinquent mortgages is the Atlanta/Sandy Springs/Alpharetta area in Georgia, with 42,268 families delinquent. However, Houston’s rate of delinquency is higher – including the rate of those 90 days past due.

Borrowers in delinquency are at risk of wracking up fees and penalties, or even worse: Foreclosure. But there are ways to avoid it if you’re struggling to make payments.

Sometimes, lenders will work out a short refinancing period and then throw the rest of the mortgage into a new loan, according to Investopedia. If there’s an emergency that causes you to miss a payment, lenders can also work out a forbearance period for homeowners.

Across the country, 1.13 million families are behind on payments, or about 14.7 percent.

Full Link Here: https://www.chron.com/homes/article/houston-homes-foreclosures-delinquent-mortgage-16349322.php?utm_source=ActiveCampaign&utm_medium=email&utm_content=%F0%9F%93%88+The+Moratorium+Has+Ended%2C+What+s+Next%3F&utm_campaign=Newsletter