The 30,000 foreclosure filings in August are a far cry from the 300,000 per month during the financial crisis of 2008 Higher mortgage rates and related affordability challenges are putting the squeeze on homeowners who have fallen behind on their mortgage payments, but foreclosure activity took a step back in August. According to the monthly foreclosure report Continue Reading
Foreclosure Starts Tick Upward In May
ATTOM’s May 2024 Foreclosure Market Report found that there were a total of 32,621 U.S. properties with foreclosure filings during the month—default notices, scheduled auctions, or bank repossessions—up 3% from April 2024, but down 7% from a year ago. “May’s foreclosure activity highlights nuanced shifts in the housing market,” said Rob Barber, CEO at ATTOM. “While we observed a Continue Reading
Foreclosure Starts Rose in October, but Remain at Historically Low Levels
Intercontinental Exchange, Inc’s—better known as ICE—has again released its monthly report highlighting mortgage performance for the month of October 2023, which overall found that foreclosure starts rose by 33,000 during the month to their highest level in 18 months. Serious delinquencies, or mortgages 90+ days past due, fell to 447,000, hitting numbers last seen during the Continue Reading
U.S. Foreclosure Filings Up 28% in Q3
According to ATTOM’s Q3 2023 U.S. Foreclosure Market Report, there were a total of 124,539 U.S. properties with foreclosure filings—default notices, scheduled auctions or bank repossessions—up 28% from the previous quarter, and 34% from a year ago. The report also shows there were a total of 37,679 U.S. properties with foreclosure filings in September 2023, up 11% from the previous month, and up Continue Reading
Foreclosure Volume Expected to Rise Slightly to Close Out 2023
Auction.com has released its 2023 Seller Insights Report which found that approximately 92% of default servicing industry leaders expect completed foreclosure volume to increase in 2023 compared to 2022, while 85% expect home prices to decline in 2023 compared to 2022. The 2023 Seller Insights Report also revealed that economic conditions will have the biggest impact on foreclosure volumes for Continue Reading
Serious Delinquencies Continue to Improve in May
According to Black Knight, reversing much of April's calendar-driven spike, the national delinquency rate fell 11 basis points in May 2023 to 3.10%–the lowest reported total rate since March 2023's record low of 2.92% The number of borrowers who were a single payment past due improved by 94,000 (-9.5%), erasing nearly half of the prior month's increase. Serious delinquencies (loans 90 or Continue Reading
Foreclosure Starts and Completions Down From April
ATTOM has released its April 2023 U.S. Foreclosure Market Report, showing a total of 32,977 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — were down 10% from last month but up 8% from a year ago. Illinois, Maryland, and New Jersey post highest foreclosure rates Nationwide one in every 4,234 housing units had a Continue Reading
Q1 Foreclosure Activity Trends Upward
ATTOM’s Q1 2023 U.S. Foreclosure Market Report has found that a total of 95,712 U.S. properties had foreclosure filings during Q1 of 2023, up 6% from Q4 of 2022, and up 22% year-over-year. The report also shows a total of 36,617 U.S. properties with foreclosure filings in March 2023 alone, up 20% from February 2023’s totals, and up 10% from a year ago—the 23rd consecutive month with a Continue Reading
Market Forecast Calls for Possible Jump in Foreclosure Auction Volume
A case study of two nationwide cohorts of properties brought to foreclosure in Q4 2022 reveals that proactive pricing is key to optimal distress disposition during a housing slowdown, according to Auction.com’s 2023 Distressed Market Outlook. Pricing in the proactive pricing cohort was reduced by 11% between September 2022 and December 2022, while pricing in the status quo pricing Continue Reading
December Foreclosure Filings Double Year-Over-Year
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
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