According to ATTOM Data’s latest U.S. Foreclosure Market Report, In January there were a total of 23,204 U.S. properties with foreclosure filings (default notices, scheduled auctions or bank repossessions). This figure is up 29% from December and 139% from a year ago. In addition, they say lenders repossessed 4,784 U.S. properties through completed foreclosures (REOs) in January, up 57% from December and a whopping 235% from a year ago.
“The increased level of foreclosure activity in January wasn’t a surprise…Foreclosures typically slow down during the holidays in November and December and pick back up after the first of the year. This year, the increases were probably a little more dramatic than usual since foreclosure restrictions placed on mortgage servicers by the CFPB expired at the end of December.” Said Rick Sharga, executive vice president of RealtyTrac, an ATTOM company.