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Fix and Flip New York | Hard Money Lenders NYC | Express Capital Financing

If you are on the lookout for potentially viable properties for a fix and flip New York then keep a close eye on the market-level data. Contact Express Capital Financing. Learn more at https://bit.ly/3qVYjFB

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Fix and Flip New York | Hard Money Lenders NYC | Express Capital Financing

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  1. Fix and Flip New York Market - Status Update: Closingout 2020 2625 East 14 St. Suite 209 Brooklyn, NY, United States 11235 info@expresscapitalfinancing.com www.expresscapitalfinancing.com

  2. If you are a real estate investor looking to expand your property portfolio in the near future with potential fix and flip New York projects, pay close attention to the market in the coming months as we approach the close of 2020. A pair of research analysis reports conducted by industry specialists indicate that there will be a dramatic uptick in the number of foreclosures that will extend into the new year—mainly attributable to the fact that homeowners will have exhausted their mortgage forbearance relief options available through the CARES Act. These measures permit borrowers to pause their mortgage payments for an aggregated 360 days (two individual 180-day terms) that began in March2020.

  3. The widespread moratorium on foreclosure proceedings and enforcement are also scheduled to expire in December, which is anticipated to prompt a significant number ofhard money lenders NYCto take action against borrowers who are delinquent on their payments. Market data suggests that the number of delinquent borrowers is reaching near-record levelhighs. According to a study conducted by CoreLogic (NNYSE: CLGX), the 150-day delinquency rate reached its highest point in the last twenty years. Additionally, the percentage of loans that are delinquent in some form currently sits at 6.6%–a 2.9% increase from this point in 2019. Still, because of the aforementioned forbearance protections, the actual foreclosure numbers are considerably low. But with a large contingent of homeowners experiencing a reduction in income as well as potential unemployment due to the ongoing COVID-19 situation, those looming mortgage installments coming due could threaten the financial stability of borrowers across thecountry.

  4. Forbearance relief initiatives have acted to restrict the flow of homes into the foreclosure and distressed sales markets and have been instrumental in assisting a number of families who have been disproportionately impacted by the global pandemic. Although foreclosure rates are historically low, the notable uptick in 150-day past-due mortgages signals a turbulent period ahead for many borrowers. An additional market research program conducted by ATTOM Data Solutions pinpoints what geographical locations may experience the greatest number of foreclosures over the next few months. According to the ATTOM data, New York and New Jersey are amongst the most vulnerable locales as they feature some of the highest statewide percentages of loans that are currently delinquent—with New York alone accounting for 11% of all mortgage delinquencies on a nationalbasis.

  5. What’s the takeaway from all of these market indicators? Although foreclosures are few and far between presently, all signs indicate that they will increase dramatically as 2020 closes. If you areonthelookoutforpotentiallyviablepropertiesforafixand flipNew York or rental projects in the near future, be sure to keep a close eye on the market-level data and be prepared to act quickly as forbearance periods begin to expire. With limited inventories currently hamstringing transactions in a large percentage of markets around the country, you can rest assured that there will be staunch competition when these cut-rate properties begin to hit themarket.

  6. The forecasted influx of available properties expected to be listed at premium price-points is welcome news to aspiring house flippers—as long as they have the requisite liquidity to make offers on the spot without first having to seek funding. Express Capital Financing is a leading New York hard money lender and has quickly established a reputation as a reliable and efficient organization who truly understands how critical each and every day is in today’s competitive real estate market. The financial experts at Express Capital Financing can individually tailor afix and flip funding package to suit your unique set of needs in a fraction of the time that it takes to obtain conventional financing. Contact us today to learn more about how we can assist you in achieving your real estate investinggoals.

  7. THANK YOU 2625 East 14 St. Suite 209 Brooklyn, NY, United States 11235 info@expresscapitalfinancing.com www.expresscapitalfinancing.com

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