According to ATTOM Data’s year-end 2022 Foreclosure Market Report, lenders reported that foreclosure filing rate (consisting of default notices, scheduled auctions, and repossessions) were up 115% from 2021, representing 324,237 properties, but down 34% from 2019, before the COVID-19 pandemic turned the world over. Compared to 2009, foreclosure filings were reported to be Continue Reading
Will Projected Price Declines Drive Pandemic Homebuyers Underwater?
According to a new report from Redfin, recent homebuyers in certain places, like Sacramento and Phoenix, are at higher risk of falling underwater on their mortgage, while Florida homeowners are at even lower risk. New data found just 3.4% of U.S. homeowners who bought in the last two years would be underwater on their mortgage if home values were to fall 4% by the end of 2023. The typical home Continue Reading
Delinquencies, Foreclosures Up Year-Over-Year But Still Near Record Lows
CoreLogic’s Loan Performance Insights Report for September 2022 has found that 2.8% of all mortgages nationwide (approximately 1.4 million loans) were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 1.1 percentage point decrease compared to 3.9% in September 2021. The nation’s overall delinquency rate dropped for the 18th straight month Continue Reading
Mortgage Defaults: What We Learned from 2007
A new white paper by Gopal "Sharath" Sharathchandra, the SVP of Financial Solutions for Ventera, entitled “How High Will Mortgage Defaults Go? Lessons from the 2007 Recession” forecasts the impact of the recent decline in home prices and the effects it might have on the mortgage market. According to Sharathchandra, price declines are likely to mirror those seen in 2007, but across a Continue Reading
Nationwide Foreclosure Starts Hit Pre-Pandemic Levels
ATTOM has released its August 2022 U.S. Foreclosure Market Report, revealing a total of 34,501 U.S. properties with foreclosure filings —default notices, scheduled auctions, or bank repossessions— up 14% from a month ago, and up 118% from a year ago. Key Findings: • Completed foreclosures increase 28% from last month • One in every 4,072 housing units had a foreclosure filing nationwide in Continue Reading
‘Dramatic increase.’ Foreclosure filings are up more than 150%. Here’s what that tells us about the housing market
The number of foreclosure starts — which is when the first public foreclosure notice happens — is up 219% since the start of the year, according to real estate data analytics firm ATTOM Data Solutions’ midyear 2022 U.S. foreclosure market report. What’s more, the number of properties that had foreclosure filings (this number includes foreclosure starts) is up 153% from the same time period last Continue Reading
Q2 Zombie Foreclosures on the Rise
ATTOM’s latest Vacant Property and Zombie Foreclosure Report for Q2 shows that 1.3 million (1,304,007) residential properties in the nation currently sit vacant, representing 1.3% of all homes in the U.S., or one in 76 homes. Among those pre-foreclosure properties, 7,569 sit vacant in Q2, meaning that the number of zombie foreclosure properties went up quarterly by 2.8%. Zombie foreclosures Continue Reading
More Than Half of Investors Believe the Housing Market is Overvalued
Up from 40% a year ago, 55% of real estate investors feel that their local market is overvalued and expect to see a price correction in the coming months. According to Auction.com, an online distressed real estate marketplace, a March 2022 survey of confirmed buyers who used their platform in the last three years also found that 17% of buyers predict flat or declining home prices in their home Continue Reading
Foreclosure Activity Increases for Eleventh Consecutive Month
ATTOM, along with its subsidiary RealtyTrac, has released its latest Foreclosure Market Report for March and the first quarter of 2022 which has found that there was a total of 33,333 properties with foreclosure filings against them, up 29% from February (which saw 25,833 filings) and up 181% from a year ago. Foreclosure activity has now surpassed numbers seen before the Continue Reading
Foreclosure Completion Numbers Continue to Rise
ATTOM, along with its subsidiary RealtyTrac, has released its latest Foreclosure Market Report for January which has found that there was a total of 23,204 properties with foreclosure filings against them, up 29% from December (which saw 17,971 filings) and up 139% from a year ago. Foreclosure activity has now surpassed numbers seen before the pandemic took hold of the Continue Reading
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