The lack of housing in Wyoming is one big reason people don't foreclose.
"There's a lot of people moving here from out of town, or just wanting to purchase. So it’s easier for us to sell before they go into foreclosure." said Diego Nicholas of BrokerOne Real Estate.
The low foreclosure rate goes hand in hand with Wyoming having one of the lowest unemployment rates in the nation.
I would assume that we have one of the lowest foreclosure rates here in Wyoming because of our energy industry. We never really didn't hit the recession like the rest of the nation did as far as foreclosures go
The booming oil and gas industry brings people in from all over the nation to live and work in the state and usually don't buy more than they can afford.
"We really do have a lot of responsible lending in Wyoming. We don't have a lot of mortgage brokers anymore. Its mostly banks doing the lending which have always been a little bit more conservative in the first place." said Woodworth
If there is ever a foreclosure problem. Nicholas says there's ways to avoid it. "So if a house is going to go into foreclosure. Usually people reach out to us realtors. And we can help get the house sold or help give them advice to modify the loan." said Nicholas.