February 2022 U.S. Foreclosure Activity Continues to Rise Steadily

irvine, california, March 10, 2022 /PRNewswire/ — ATTOM, the United States’ most comprehensive licensor of foreclosure data and parent company of RealtyTrac (www.realtytrac.com), the largest online marketplace for foreclosures and distressed properties, today announced that: February 2022 According to the U.S. Foreclosure Market Report, a total of 25,833 U.S. properties filed for foreclosure (default notices, scheduled auctions, or bank foreclosures) were down 11% from a month ago and 129 from a year ago. % Increased has.

“February’s foreclosure activity is very similar to what we’ll see over the next six months at least: double-digit growth month-over-month and triple-digit growth year-over-year.” Rick Sharga, Executive Vice President of RealtyTrac, an ATTOM company. “This is not indicative of economic turmoil or a weak housing market. This is simply an artificially low After two years of sustained numbers, it means that foreclosure activity has gradually returned to normal levels.

Foreclosure completions down from last month
Lenders have remanded 2,634 US properties through complete foreclosures (REOs). February 2022down 45 percent from last month, but up 70 percent from last year.

States with at least 100 REOs and the largest monthly reduction in completed foreclosures February 2022 Included: Michigan (81% decrease); texas (58% down); California (52% down); florida (down 43%); and new jersey (down 27%).

A metropolitan statistical area (MSA) with a population greater than 200,000 and 25 or more REOs February 2022 And the biggest month-on-month reductions in completed foreclosures were: Detroit, Michigan (87% reduction); Los Angeles, California (63% down); St. Louis, Missouri (50% down); riverside, california (46% down); and new york, new york (40% down).

“The decline in foreclosure completions reflects much of the activity we saw in January as mortgage servicers were unable to keep up with processing loans that had been foreclosed prior to the pandemic and moratorium or were in very serious delinquencies. It suggests that it is a result of “Expect more month-to-month volatility as servicers and court systems process some of these backlogs.”

Foreclosures start increasing monthly in 40 states, including districts. Columbia
Lenders have initiated the foreclosure process on 16,545 US properties. February 2022up 40 percent from last month and 176 percent from a year ago.

The states with the most foreclosures were: February 2022 Included: California (1,868 foreclosures initiated); florida (1,527 foreclosures initiated); texas (1,488 foreclosures initiated); Illinois (1,168 foreclosures initiated); and Ohio (1,144 foreclosures begin).

Among the 220 metropolitan statistical areas with a population of 200,000 or more, the areas with the highest number of foreclosures were: February 2022included: Chicago, Illinois (1,075 foreclosures initiated); new york, new york (793 Foreclosure started); Los Angeles, California (530 Foreclosure Start); houston, texas (471 Foreclosure Start); and Atlanta, Georgia (The 415 foreclosure begins).

highest foreclosure rate in new jersey, IllinoisWhen Ohio
One in 5,320 homes nationwide has been filed for foreclosure. February 2022The state with the highest foreclosure rate is new jersey (1 for every 2,510 housing units with foreclosure applications); Illinois (1 in 2,521); Ohio (1 in 2,801 units); south carolina (1 in 3,001); and Nevada (1 in 3,112 homes).

Among the 220 metropolitan statistical areas with a population of 200,000 or more, the highest foreclosure rates are: February 2022 It was Cleveland, Ohio (1 in 1,483 homes with foreclosure applications); Atlantic City, New Jersey (1 out of 1,832 units); Columbia, South Carolina (1 in 1,890); lakeland, florida (1 in 1,983); and Chicago, Illinois (1 in 2,058 units).

apart from cleveland When Chicagothe area with the worst foreclosure rate among metropolitan areas with a population of over 1 million February 2022 Included: jacksonville, florida (1 in 2,452 homes); Las Vegas, Nevada (1 in 2,472 homes); and orlando, florida (1 in 2,655 homes).

Report methodology
The ATTOM US Foreclosure Market report shows the total number of properties with at least one foreclosure application entered into the ATTOM data warehouse during the month and quarter. Some of the foreclosure claims entered into the database during the quarter may have been recorded in the previous quarter. Data are collected from his more than 3,000 counties nationwide, which make up more than 99% of his population in the United States. ATTOM’s report incorporates documents filed at all three stages of foreclosure. Default — Notice of Default (NOD) and Lis Pendens (LIS); auction — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS). Property owned, or REO property (foreclosed and repurchased by bank). For annual, mid-year, and quarterly reports, if multiple types of foreclosure documents were received for a single property during the period, only the most recent submission will be included in the report. Annual, interim, quarterly, and monthly reports all check to see if the same type of document has been previously filed against the property. If so, and if the previous filing was within the estimated foreclosure period for the state in which the property is located, the report will not count the property for the current year, quarter, or month.

Want to learn more about pre-foreclosure and foreclosure data?

For more information on seized data licenses, please contact ATTOM.
Visit RealtyTrac.com for foreclosure searches and listings.

About Atom
ATTOM provides foreclosure data licenses that empower a variety of corporate industries including real estate, insurance, marketing, government and mortgages. ATTOM draws on more than 155 million U.S. residential and commercial properties, covering 99% of the U.S. population, from 3,000 counties’ property tax, deed, mortgage, environmental risk, natural disaster, and neighborhood data. getting the source.

About RealtyTrac (Powered by ATTOM’s Property Data)
RealtyTrac.com is the largest online marketplace for foreclosures and distressed properties, helping individual investors and real estate agents to gain a competitive edge in the distressed market. Realtytrac.com enables real estate professionals to find, analyze and invest in residential real estate.

Media contact:
Christine Stricker
[email protected]

Data and Reporting License:
[email protected]

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