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Economists in the real estate industry are all in agreement that there is no chance of a foreclosure crisis like what we saw in the mid-2000's.  In fact, the overall percentage of homeowners at risk of foreclosure has decreased significantly since Spring of 2020 when prices really started to soar.

If you are facing difficulties, you have options like loan modifications or selling your home on a short sale, however many homeowners are finding right now that they have quite a bit of equity in their homes.  Equity is defined as the difference between what your home is worth and what you owe.  if you have lived in your home for at least a few years, your equity has probably risen substantially.  If the current value of your home is higher than what you owe, you should be able to use that to your advantage.

Talk to a Realtor to find out how much equity you may have and to talk about your options.  You probably have many more options than you realize, and real estate professionals are here to help!