Fix and Flip New York | Hard Money Lenders NYC | Express Capital Financing
                     Fix
and Flip New 
York  Market - 
Status  Update: 
Closing out  2020
2625 East 14 St. Suite 
209  Brooklyn, NY, United 
States  11235
[email protected]
m  
www.expresscapitalfinancing.co
m
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  March 2020.
The widespread moratorium on foreclosure proceedings and 
 enforcement are also scheduled to expire in December, 
which is  anticipated to prompt a significant number of h 
ard money
 lenders NYC to take action against borrowers who are 
delinquent  on their payments. Market data suggests that the 
number of  delinquent borrowers is reaching near-record 
level highs.
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 the country.
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 
national basis.
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  are on the lookout for potentially viable 
properties for a fix and
 flip New 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 the market.
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 a f ix
 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 investing goals.
THA
NYOKU
2625 East 14 St. Suite 
209  Brooklyn, NY, United 
States  11235
[email protected]
m  
www.expresscapitalfinancing.co
m