MILLIONS At Risk For Property Tax Foreclosures! | 2021 Housing CRISIS And Mortgage Forbearance FEARS

Millions of Americans have taken mortgage forbearance in hopes to recover from this pandemic. Lenders are personally calling homeowners stating that they can "help" them with mortgage forbearance to ease the monthly payments. What Millions of Americans who are taking mortgage forbearance aren't paying attention to is their property taxes and property insurance. Many who are NOT escrowed are assuming those are covered in mortgage forbearance when in fact they are NOT. As months continue to pass and homeowners are either not saving for their property taxes or prepared for them, things start to get concerning. Missed property taxes can lead to getting your home foreclosed on in a tax lien auction. Now, in many states you have something called a "Right of Redemption" period to recover the house but the hassle and cost can drain you. If you are not escrowed with your lenders you have to be careful because at the end of the year your local city will DEMAND their property taxes. Cities make a LARGE portion of their money through homeowners paying property taxes and with this pandemic making markets slow they will NOT be lenient on property taxes. If you are escrowed with your lenders you must also be very careful. The lender is advancing you the money and at the end they will DEMAND their money back. There is no such thing as free money and everyone will come collecting from you when time is due. Millions of homeowners are agreeing to terms with banks without getting written documents stating payback options and periods. They are "trusting" the lenders thinking they are their in there benefit but sadly that is not the case. Eventually when foreclosure moratoriums get lifted, eviction moratorium bans get lifted, mortgage forbearance ends and the markets go to normal everyone will come collecting from you. If millions of Americans get delayed or fall back on property taxes we could see a large flood of property tax lien foreclosures happen. MAKE SURE you are aware of your situation and be careful on the terms / agreements you are making with lenders! Many believe we are on the verge of a housing collapse and that the housing market has peaked. There are so many opinions out their about a housing crash and a real estate collapse in whole. The most important thing is to educate yourself and be on the knowledgable side so you know what to do when and if it comes. Anyways, enjoy the video and comment below your thoughts so we can discuss! SUBSCRIBE HERE:    / karamkhaliltv​   ----------------------------------------------------------------------------------------------------- Thank you for stopping by the channel! If you enjoyed the video than don't forget to LIKE, SHARE and SUBSCRIBE for more weekly videos every Week at 5:00pm CST. ----------------------------------------------------------------------------------------------------- New Merch!: https://www.teespring.com/stores/kara... ----------------------------------------------------------------------------------------------------- Join the Team: Tiktok: KaramKhalil_ Snapchat: Karam_Khalil Instagram: KaramKhalil_ Facebook -   / karamkhaliltv​   Twitter -   / karamkhalil_​   ———————————————— DISCLAIMER: I am not a CPA, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, electrical or financial advice. IF stocks or companies are mentioned, Karam MAY have an ownership interest in them -- DO NOT make buying or selling decisions based on Karam’s videos. If you need ANY professional advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer/etc. financial advisor or the appropriate professional for the subject you would like help with. Linked items may create a financial benefit for Karam Khalil. Any use of other media is by fair-use only. This is not an advertisement of property for sale and any mention of properties listed for sale or otherwise shall not be construed as anything other than an opinion for entertainment purposes only. #Mortgage #Forbearance #CRISIS