According to ATTOM Data’s most recent U.S. Foreclosure Market Report, foreclosure filings in July were down 4% from June and 83% from one year ago. As of July, there were 8,892 properties across the country with foreclosure filings (default notices, scheduled auctions or bank repossessions) – with 4,530 starting the foreclosure process in July. In addition, they report that lenders foreclosed (REO) on 2,163 properties, down 14% from June and 80% from a year ago. Attom says these REO numbers are the lowest since they began tracking them in 2005. Indeed…
“Even as mortgage delinquency rates climb, foreclosure activity continues to be artificially low due to moratoria put in place by the Federal and State governments,” said Rick Sharga, Executive Vice President at RealtyTrac. “It’s inevitable that there will be a significant increase in foreclosures once these moratoria have expired, although it’s unlikely that we’ll see default rates reach the levels we saw during the Great Recession.”
Click here to read the full report at ATTOMdata.com.
