Foreclosure Wake Up Call 2026

0:00America leads the world in medicine development. It matters. We get new medicines first, nearly three years faster. Five million Americans go to work because we make medicines here at home, and not relying on other countries keeps us safe. But China is racing to overtake us. Will we let them? Or will we choose to stay ahead? When America leads, America cures. Let's tell Washington to keep us in the lead. Learn how at americancures.com, paid for by pharma. I want to talk about foreclosures in 2026. I want to give a little bit of a history lesson, and I want you to know that yes, I am aware that there is a content creator promising you glory in the foreclosures in 2026. And unfortunately, I need to bust theirs and your bubble. Why do I mean that? Well, the three amigos yesterday had a conversation about foreclosures

1:00and what's actually happening today. Matt shared a story of two, two different foreclosures in 2026 and what happened. Now, without stealing the full thunder from that discussion, which will be posted later tomorrow, I'll give you the highlights. Both of these were one of them was a house hack. And the other was a rental property. Now, in both these cases, no payments had been made in five months. They had passed the 90 day mark. They had received an NOD. It's called notice of default. The foreclosure clock had started ticking. And in fact, one of these foreclosures had already been processed out to an attorney to actually initiate the real paperwork of foreclosing. Now, what happened? First and foremost, these foreclosures were started because the owners, frankly, ignored all of the notices. You've undoubtedly seen

2:01reports of no contact as one of the largest reason foreclosures are started and proceeded. Please, folks, do not do that. No contact is like the only way to guarantee a foreclosure. In this case, Matt stepped in. He knew these individuals and he helped process two phone calls. Well, in reality, three phone calls. The first property took about 45 minutes. And basically to net out the story is that property is no longer in foreclosure. A payment has been made. Interest rates have been lowered. Payments have been lowered. And any remaining past due was put on the back end of the loan. Now, the second one, this one took twice as long. It took two phone calls. And again, the same basic result. Interest rates were lowered. Payments were lowered. Payment was made and no longer these properties are in foreclosure. Now, why do I bring

3:04this up? I bring this up for a couple of reasons. One, there is a content creator who has PTSD about foreclosures starting in Q1 and Q2. Well, folks, I don't know if you've looked at the calendar, but we are at the end of Q1. It's not coming. Why do I say that? Well, folks, I experienced 2010 and 11 and I've experienced 2025 and 26. Here's the truth like the real real life happens. People get behind. Death, divorce, job loss, sickness, life is tough. But here's the difference. Banks, lenders, and servicers in 2026 do not want to foreclose. I'll say that again. Banks, lenders, servicers do not want to foreclose. If you could stop a foreclosure with one 45 minute phone call, that should be a signal that this is not 2010. Have an experience

4:12to 2010 up close and personal. Here's the reality. If you got 90 days late, there was over a 90% chance you were going to have a foreclosure for a short sale. Why? For whatever reason, banks, lenders, servicers wanted to foreclose last time. They just did. And today, they don't. So if you have been waiting on the sidelines for some PTSD content creator to ring a bell, they fooled you again. It's not coming. It's just, I mean, how could you have a foreclosure crisis if it only takes one phone call to stop a foreclosure? Now, in reality, this is certainly kicking the can down the line. Maybe, just maybe these people will be back in foreclosure in six months. But again, if they are, that's not Q2 of 2026. That might be Q2 of 2027 or 28 or 29.

5:15So again, the real real is life is tough. Life happens. But if you want to stop a foreclosure, simply get on the phone, have a conversation with the bank and the chances are you can work something out. So pretty interesting on that. Let's get into the news. We got ISM services yesterday. It was a blowout number, just like ISM manufacturing. Again, above 50, this time coming in at 56.1. Last was 53.8. So again, with these numbers, there are two things you need to watch for. A, is it above 50? 50 is the line of demarcation. Is it growing or shrinking? So again, above 50. And then two, what's the trend? Last month, we were 53.8. And again, this month 56.1. So the expansion in services is growing. Kind of details below the services, ISM services, prices paid, index dropped to the lowest in merely a year. So if you were expecting tariffs or other

6:17inflation to be passed through, not coming, business activity hit a multi-year high. So again, kind of good, good. Prices paid down, expansion, growing. The Fed Basebook came out yesterday afternoon and the highlights were reflects an economy that is still facing challenges, wages rose at a modest or moderate pace in most districts. On the layoff van wagon, we got Morgan Stanley, excuse me, finding a sneeze. Morgan Stanley says they're going to lay off 3% of their work folks. That equates to about 2,500 employees. Fed, Moran says the Fed should accommodate the AI job transition with easier money policies. Moran wants four rate cuts. Four. He wants 100 basis points or 1% of interest cut off the Fed funds rate. Fed, Moran says, if housing inflation decelerates as expected, the Fed could undershoot the 2% target. Of course,

7:24you and I have been talking about this for a year. The crazy calculation inside CPI for shelter is just horribly wrong and horribly inaccurate. But it is what it is. I do want to let you know about some exciting stuff inside school. First and foremost, after our over at event in Vegas, you guys gave us, we did the survey, shout out Kenny and Jin for doing that. And I'm taking action against your request. Number one, you asked for the lumberjack landlord Matt to do an operations session. So I spoke with him yesterday and he is game to do a two hour session just for our school community. If you want to ask about how to manage your rentals, turnover, any of the day to day operations, the lumberjack landlord is your guy. He will be doing that in the next month or so. On top of that, you guys asked for Dion to do the binder strategy. And he has stepped up in a big way for you. He's actually said, I want three school members to be active participants in this.

8:28Again, I did a post on this yesterday. So feel free to reach out to Dion. He's going to do hands on binder strategy. We're going to record this session. So everybody inside school has that. Of course, we will also do out of state investing coming. We will get Omar Adrian and Ty on a call. We got lots of goodness coming to the community. But just today, for example, what you are missing, we have three accountability calls, nine to 10, wealth beyond real estate, 12 to one, Western PA, meetup and from five to six, break through Thursday. So again, folks, you need to be in the community. 67 pennies a day. Go find your, go find your tribe. Go find your friends and go get wealthy. Next up, we got mortgage demand, mortgage demand. Finally, snapback after a couple winter storms. Mortgage demand was up 11% specifically. Refies were up 14.3% week on week and purchase up 6.1.

9:30Bank of America CEO out with an unexpected message. There's obviously lots of doom and fear and white collar job loss. Bank of America CEO says AI is expected to boost productivity, creating new industries and new roles, aka new jobs, not just job destruction. If you've been watching my channel for any length of time, you know that that is my belief as well. I think it is always easier to be a doomer and see the job loss. It is harder to see through the noise and see all the amazing new jobs and new careers that will come out of AI. Now, as I've said before, we might have a timing problem as it is certainly easier to whack jobs than reinvent, recreate new roles and new jobs. But I have no doubt that when we look in mass over a decade, AI will create more roles than it destroys. At least that is my opinion.

10:36Frankly, Bank of America said, I see the US economy as reinvention, not recession. I actually like that reinvention, not recession. Van Gard is updated their forecast for rate cuts. They now see only one, one rate cut in 2026. China has set their lowest annual growth rate at four to half to five percent. Again, they're usually much higher than that. As deflation and tariffs bite, again, folks, it's hard to believe. You and I have been doing this for eight years, and in 2018, we were talking about Evergrande. Remember that? If you've been with me that long, Evergrande is still really biting China with loss of wealth and housing. They had bought these extra houses as savings accounts and truly lost faith in the Chinese consumer. Broadcom reported a beat top and bottom and raised guidance says that AI is going to drive a hundred billion dollars

11:41in business. On the opposite of that, Octa beat top and bottom, but issued weak guidance, weak guidance, weakly unemployment. It is Thursday, so we got to talk about that. Came at at 2.13, was expected to do 2.15. Last was 2.12. Again, big fat nothing burger. Continuing claims down to 1.86. It was only a few months ago. We were up in over 1.9. So again, continuing claims, going the right direction. Probably the best thing I read today was the Challenger Report. Challenger Report gave us some really, really bad news in January. We had a record number of layoffs in January. Well, guess what, folks? In February, job cuts dropped 72 percent to only 48,307. So again, we came off the boil certainly with job cuts dropping 72 percent. Let's congratulate some folks who are joining school and I don't know why you're not in school.

12:42We're quickly heading to 700 wealth builders. Get in there, join the accountability groups, free education, all that good stuff. We have Joe and Andrea joining yesterday. And of course, folks, don't forget that steadily is landlord insurance. Again, in 2025, they saved us 20,000 dollars, which is nothing to sneeze at. And I will never forget that. Thank you, steadily. See if they can help you. Link in the description below. They don't always help. Honestly, about 65 percent of the time for us, they are better. But there you go, folks. Join school right there on the screen. School.com slash or at I hope to see you in there. I'll send you a welcome message. Take care. And again, folks, remember, life happens. Miss payments happen. Notice of the involves happen for closures happen. But in 2026, banks and lenders will work with you. This is not 2008. This is not 2010.

13:42No matter what people with PTSD want you to believe, we are not repeating 2010. I am sorry. Don't know what to tell you. Peace.