Which housing markets have the most—and least—mortgage distress right now?
ResiClub's new housing distress calculation includes mortgages that are 30 to 89 days past due, 90 to 180 days past due, in foreclosure, or in forbearance.
While aggregate U.S. housing distress still isn’t that high, there are some pockets of concern with the government mortgage programs (FHA, USDA, and VA).
FHA mortgages—which are backed by the Federal Housing Administration and often used by first-time or lower-income homebuyers—have seen a notable spike in delinquencies over the past two years. Keep in mind that FHA mortgages make up a much smaller share of overall borrowers than, say, GSE conventional borrowers (guaranteed by Fannie Mae/Freddie Mac). According to the National Mortgage Database, as of Q4 2025, government-insured mortgages (FHA, USDA, and VA) represent 23.3% of the nation’s outstanding mortgage debt.
resiclubanalytics.com/p/housing-market-mortgage-distress-foreclosures-by-state