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A lot of homeowners, especially first-time buyers and military families, are starting to fall behind on their mortgage payments, and some experts are calling it a warning sign for the housing market. In 2024, the number of people who were seriously behind—meaning more than 90 days late—hit its highest level in almost two years. FHA and VA loans seem to struggle the most because people with smaller savings often use them. Rising costs for things like taxes, insurance, and everyday expenses are making it tougher for many families to keep up. States in the South, like Florida and Louisiana, are seeing the biggest increases in late payments, and natural disasters haven’t helped. The good news is that foreclosures are still pretty low thanks to government programs that let people pause payments. Plus, a lot of homeowners have built up equity in their homes, which gives them a bit of a financial cushion.

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