Foreclosure | Jotup

U.S. FORECLOSURE ACTIVITY IN JANUARY 2023 CONTINUES TO INCREASE ANNUALLY FOR 21 CONSECUTIVE MONTHS

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Thursday, February 9, 2023

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IRVINE, Calif., Feb. 9, 2023 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its January 2023 U.S. Foreclosure Market Report, which shows there were a total of 31,557 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions – up 36 percent from a year ago, and up 2 percent from the prior month.

Key Points:

While both completed foreclosures and foreclosure starts have stalled slightly over the past month, the annual increase in overall activity seen over the past 21 months may indicate a more substantial trend that could continue into 2023."
Highest foreclosure rates in Delaware, Illinois, and Michigan
Nationwide one in every 4,425 housing units had a foreclosure filing in January 2023.
Those states that saw the greatest number of foreclosures starts in January 2023 included: California (2,513 foreclosure starts); Texas (2,136 foreclosure starts); Florida (1,725 foreclosure starts); New York (1,375 foreclosure starts); and Illinois (1,309 foreclosure starts).
Among those major metropolitan statistical areas with a population of at least 200,000, those with the greatest number of foreclosure starts in January 2023, included: New York, NY (1,370 foreclosure starts); Chicago, IL (1,156 foreclosure starts); Los Angeles, CA (774 foreclosure starts); Houston, TX (629 foreclosure starts); and Philadelphia, PA (612 foreclosure starts).

U.S. FORECLOSURE ACTIVITY DOUBLES ANNUALLY BUT STILL BELOW PRE-PANDEMIC LEVELS

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Thursday, January 12, 2023

IRVINE, Calif., Jan. 12, 2023 /PRNewswire/ -- ATTOM, a leading curator of real estate data nationwide for land and property data, today released its Year-End 2022 U.S. Foreclosure Market Report, which shows foreclosure filings— default notices, scheduled auctions and bank repossessions — were reported on 324,237 U.S. properties in 2022, up 115 percent from 2021 but down 34 percent from 2019, before the pandemic shook up the market. Foreclosure filings in 2022 were also down 89 percent from a peak of nearly 2.9 million in 2010.

Key Points:

Foreclosure filings in 2022 were also down 89 percent from a peak of nearly 2.9 million in 2010.
"Unlike foreclosure activity during the Great Recession, the majority of homes in foreclosure are not being repossessed by lenders," Sharga noted.
Those metropolitan statistical areas with a population greater than 1 million that saw the greatest number of foreclosure starts in 2022, included New York, New York (15,821 foreclosure starts); Chicago, Illinois (14,360 foreclosure starts); Los Angeles, California (8,185 foreclosure starts); Philadelphia, Pennsylvania (7,286 foreclosure starts); and Miami, Florida (7,090 foreclosure starts).
Some foreclosure filings entered into the database during the quarter may have been recorded in the previous quarter.

U.S. FORECLOSURE COMPLETIONS INCREASE ANNUALLY BY 64 PERCENT IN NOVEMBER 2022

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Thursday, December 8, 2022

IRVINE, Calif., Dec. 8, 2022 /PRNewswire/ -- ATTOM, a leading curator of real estate data nationwide for land and property data, today released its November 2022 U.S. Foreclosure Market Report, which shows there were a total of 30,677 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions – up 57 percent from a year ago, but down 5 percent from the prior month.

Key Points:

"While foreclosure starts and foreclosure completions both increased compared to last year's artificially low levels, they declined from last month, and lenders often put a moratorium on foreclosures during the holiday season."
Highest foreclosure rates remain in Illinois, Delaware, and New Jersey
Nationwide one in every 4,580 housing units had a foreclosure filing in November 2022.
States that had the greatest number of foreclosure starts in November 2022 again included: California (2,244 foreclosure starts); Texas (2,114 foreclosure starts); Florida (1,709 foreclosure starts); New York (1,575 foreclosure starts); and Illinois (1,243 foreclosure starts).
Those major metropolitan areas with a population greater than 1 million that had the greatest number of foreclosure starts in November 2022 included: New York, NY (1,593 foreclosure starts); Chicago, IL (1,028 foreclosure starts); Houston, TX (685 foreclosure starts); Miami, FL (657 foreclosure starts); and Los Angeles, CA (642 foreclosure starts).

MID-ATLANTIC STATES, CALIFORNIA AND ILLINOIS MORE VULNERABLE TO HOUSING MARKET DECLINES IN THIRD QUARTER

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Thursday, December 1, 2022

IRVINE, Calif., Dec. 1, 2022 /PRNewswire/ -- ATTOM, a leading curator of real estate data nationwide for land and property data, today released a Special Housing Risk Report spotlighting county-level housing markets around the United States that are more or less vulnerable to declines, based on home affordability, foreclosures and other measures in the third quarter of 2022. The report shows that New Jersey, Illinois, Delaware, and inland California continued to have the highest concentrations of the most-at-risk markets in the country, with the biggest clusters in the New York City, Chicago and Philadelphia areas. Southern and Midwestern states remained less exposed.

Key Points:

The third-quarter patterns based on gaps in home affordability, underwater mortgages, foreclosures and unemployment - revealed that New Jersey, Illinois and California had 28 of the 50 counties most vulnerable to potential declines.
During a time when the broader U.S. housing market boom slowed considerably, those concentrations still dwarfed other parts of the country.
At the other end of the risk spectrum, the South, Midwest and western areas outside California had the highest concentration of markets considered least vulnerable to falling housing markets.
Counties with the lowest composite rank were considered most vulnerable to housing market problems.

Black Knight's First Look: Prepayment Activity Hit Record Low in October as Rates Topped 7%; Mortgage Delinquencies Up 4.5% in First Signs of Hurricane Ian Impact

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Tuesday, November 22, 2022

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- Florida led the jump in new early delinquencies (+19K) – with the state delinquency rate rising 53 basis points to 3.42% -- giving an initial indication of Hurricane Ian impact

Key Points:

- Loans 60 days past due ticked up 2.9% nationally, while those 90 or more days delinquent saw continued if modest improvement, inching down another 1.5% in October
- October's 19.6K foreclosure starts represented a 7% increase that partly reversed September's decline, but are still 55% below pre-pandemic levels
- Foreclosure starts were initiated on 4% of existing serious delinquencies in October, up slightly from September but still less than half the rate seen in the years leading up to the pandemic
JACKSONVILLE, Fla., Nov. 22, 2022 /PRNewswire/ -- Black Knight, Inc. (NYSE:BKI) reports the following "first look" at October 2022 month-end mortgage performance statistics derived from its loan-level database representing the majority of the national mortgage market.
Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 2.91%
Number of properties that are 30 or more days past due, but not in foreclosure: 1,557,000
Number of properties that are 90 or more days past due, but not in foreclosure: 551,000
Number of properties in foreclosure pre-sale inventory: 186,000
Number of properties that are 30 or more days past due or in foreclosure: 1,743,000

OCTOBER 2022 U.S. FORECLOSURE ACTIVITY INCREASES 57 PERCENT FROM OCTOBER 2021

Retrieved on:

Wednesday, November 9, 2022

IRVINE, Calif., Nov. 9, 2022 /PRNewswire/ -- ATTOM, a leading curator of real estate data nationwide for land and property data, today released its October 2022 U.S. Foreclosure Market Report, which shows there were a total of 32,376 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions – up 57 percent from a year ago, but only up 2 percent from the prior month.

Key Points:

Nationwide one in every 4,339 housing units had a foreclosure filing in October 2022.
"October foreclosure activity was about 59 percent of pre-pandemic numbers, and at its current pace foreclosures probably won't be back to historically normal levels until sometime around mid-2023."
States that had the greatest number of foreclosure starts in October 2022 included: California (2,594 foreclosure starts); Texas (1,901 foreclosure starts); Florida (1,528 foreclosure starts); New York (1,362 foreclosure starts); and Illinois (1,300 foreclosure starts).
Those major metropolitan areas with a population greater than 1 million that had the greatest number of foreclosure starts in October 2022 included: New York, NY (1,655 foreclosure starts); Chicago, IL (1,107 foreclosure starts); Los Angeles, CA (816 foreclosure starts); Philadelphia, PA (788 foreclosure starts); and Miami, FL (583 foreclosure starts).

New Legal Aid Eviction and Foreclosure Prevention Program Offers Relief for Renters and Homeowners

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Monday, October 10, 2022

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BLOOMFIELD HILLS, Mich., Oct. 10, 2022 /PRNewswire-PRWeb/ -- Oakland Mediation Center (OMC) announces a new Legal Aid Eviction and Foreclosure Prevention program to help renters and property owners, who may have fallen behind on their payments due to COVID-19 pandemic. The services are free for people who qualify.

Key Points:

The program, which launched February 1, 2022, is part of a joint partnership with Lakeshore Legal Aid and Legal Aid and Defenders Association.
Awarded by a county grant, the program helps to provide legal assistance to tenants or homeowners at risk of or subject to eviction or foreclosure.
The benefits of the Legal Aid Eviction and Foreclosure Prevention program include access to justice, legal resources, and education that empowers clients.
The Legal Aid Eviction and Foreclosure Prevention program is part of a larger program at OMC offering low-cost legal services.

U.S. FORECLOSURE STARTS REACH PRE-PANDEMIC LEVELS NATIONWIDE

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Thursday, September 8, 2022

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IRVINE, Calif., Sept. 8, 2022 /PRNewswire/ -- ATTOM, a leading curator of real estate data nationwide for land and property data, today released its August 2022 U.S. Foreclosure Market Report, which shows there were a total of 34,501 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 14 percent from a month ago and up 118 percent from a year ago.

Key Points:

"August foreclosure starts were at 86 percent of the number of foreclosure starts in August 2019, but it's important to remember that even then, foreclosure activity was relatively low compared to historical averages."
States that had at least 100 foreclosure starts in August 2022 and saw the greatest monthly increases in foreclosure starts included: Oklahoma (up 80 percent); Tennessee (up 74 percent); Virginia (up 64 percent); Arkansas (up 53 percent); and Washington (up 50 percent).
In taking a more granular look, those counties that had the greatest number of foreclosure starts in August 2022 included: Cook County, IL (798 foreclosure starts); Los Angeles County, CA (740 foreclosure starts); Harris County, TX (465 foreclosure starts); Suffolk County, NY (297 foreclosure starts); and Riverside County, CA (280 foreclosure starts).
Nationwide one in every 4,072 housing units had a foreclosure filing in August 2022.

ZOMBIE PROPERTY COUNT INCHES UP AGAIN IN THIRD QUARTER OF 2022 ACROSS U.S. AMID CONTINUED RISE IN FORECLOSURE ACTIVITY

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Thursday, August 18, 2022

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IRVINE, Calif., Aug. 18, 2022 /PRNewswire/ -- ATTOM, a leading curator of real estate data nationwide for land and property data, today released its third-quarter 2022 Vacant Property and Zombie Foreclosure Report showing that 1.3 million (1,277,162) residential properties in the United States sit vacant. That figure represents 1.3 percent, or one in 78 homes, across the nation.

Key Points:

Among those pre-foreclosure properties, 7,707 are zombie-foreclosures (pre-foreclosure properties that sit vacant) in the third quarter of 2022, up 1.8 percent from the prior quarter and 2.2 percent from a year ago.
And the number of zombie properties should continue to increase slowly as foreclosure activity climbs back from historically low levels due to government intervention."
Just one of every 12,947 homes in the third quarter of 2022 is vacant and in foreclosure, meaning that most neighborhoods still have no such properties.
Among the roughly 4,200 foreclosed, bank-owned homes in the U.S. during the third quarter of 2022, 8.2 percent are vacant.

U.S. FORECLOSURE ACTIVITY DROPS 4 PERCENT IN JULY 2022

Retrieved on:

Tuesday, August 9, 2022

IRVINE, Calif., Aug. 9, 2022 /PRNewswire/ -- ATTOM, a leading curator of real estate data nationwide for land and property data, today released its July 2022 U.S. Foreclosure Market Report, which shows there were a total of 30,358 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — down 4 percent from a month ago but up 143 percent from a year ago.

Key Points:

Nationwide one in every 4,628 housing units had a foreclosure filing in July 2022.
Lenders started the foreclosure process on 21,428 U.S. properties in July 2022, down 4 percent from last month but up 226 percent from a year ago.
Those major metropolitan areas with a population greater than 200,000 that had the greatest number of foreclosures starts in July 2022 included: New York, NY (1,380 foreclosure starts); Chicago, IL (1,247 foreclosure starts); Los Angeles, CA (678 foreclosure starts); Miami, FL (666 foreclosure starts); and Philadelphia, PA (652 foreclosure starts).
Some foreclosure filings entered into the database during the quarter may have been recorded in the previous quarter.