US Foreclosure Activity Declines Slightly in April 2022

Foreclosure starts have not changed since last month. While completed foreclosures are down 36% from last month

irvine, california, May 11, 2022 /PR Newswire/ — ATTOMprincipal curator of real estate data Nationwide land and property data released today April 2022 The US Foreclosure Market Report had a total of 30,674 US properties. Foreclosure application — notices of default, scheduled auctions or bank foreclosures — down 8% from a month ago but up 160% from a year ago.

Illinois, new jersey When Ohio had the highest foreclosure rate
One in 4,580 homes nationwide has been filed for foreclosure. April 2022The state with the highest foreclosure rate is Illinois (1 for every 2,241 housing units with foreclosure applications); new jersey (1 in 2,292 homes); Ohio (1 in 2,585 homes); Indiana (1 in 2,660); and Nevada (1 in 3,043 units).

Among the 223 metropolitan statistical areas with a population of 200,000 or more, the highest foreclosure rates are: April 2022 It was Greeley, Colorado (1 in 1,237 homes with foreclosure applications); Cleveland, Ohio (1 in 1,326); Elkhart, Indiana (1 in 1,531); Fayetteville, North Carolina (1 in 1,639); and Chicago, Illinois (1 in 1,851).

The lowest foreclosure rates in metropolitan areas of over 1 million people are: April 2022,Apart Cleveland, Ohio When Chicago, Illinois It was: Philadelphia, Pennsylvania (1 in 2,196); Indianapolis, Indiana (1 in 2,268); and riverside, california (1 in 2,366 units).

The starting amount for seizure has not changed from last month
Lenders have initiated the foreclosure process on 22,286 US properties. April 2022down slightly from last month’s 22,360, but up 251% from a year ago.

Contrary to national trends, states with at least 100 foreclosures: April 2022 And we’ve seen the largest monthly increases in foreclosure starts include: Massachusetts (133% increase); colorado (95% increase); Minnesota (59% increase); Indiana (39% increase); and Washington (up 24%).

Looking more closely, the counties with the highest number of foreclosures are: April 2022 Included: Cook County, Illinois (759 Foreclosure Start); Los Angeles County, California (652 Foreclosure Start); Harris County, Texas (429 Foreclosure Start); Maricopa County, Arizona ( 331 Foreclosure Commencement); and Philadelphia, Pennsylvania (277 foreclosures begin).

“The extreme gap between foreclosures opening and foreclosures being completed in April may be the beginning of a trend,” he said. Rick Sharga, ATTOM’s Executive Vice President of Market Intelligence. “Record levels of homeowner wealth should provide financially distressed homeowners with an opportunity to sell their homes ahead of foreclosure auctions, meaning foreclosure completions should continue to decline. It may take months to determine if this is actually what is happening, but it seems like a realistic possibility in today’s housing market where supply is low and demand is high.”

Foreclosure completions down 36% from last month
Lenders have repossessed 2,830 US properties through 2,830 completed foreclosures (REOs). April 2022down 36% from last month, but up 82% from last year.

States with the most REOs April 2022included: Illinois (417 REO); pennsylvania (266 REO); Michigan (187 REO); Ohio (150 REO); and California (148 REO).

Major Metropolitan Statistical Areas (MSAs) with more than 1 million inhabitants with the highest number of REOs April 2022 Included: Chicago, Illinois (347 REO); Philadelphia, Pennsylvania (149 REO); new york, new york (128 REO); Detroit, Michigan (64 REO); and St. Louis, Missouri (53 REO).

How to report
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, mid-year, quarterly, and monthly reports all check to see if the same type of document has been previously filed against the property. In that case, and if the previous filing was within the 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.

About Atom
ATTOM provides premium real estate data to power products that improve transparency, innovation, efficiency and disruption in the data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural disaster and neighborhood data for over 155 million U.S. residential and commercial properties covering 99% of the U.S. population. I’m here. A rigorous data management process involving more than 20 steps validates, standardizes and enriches the property data collected by ATTOM and assigns a permanent and unique ID (ATTOM ID) to each property record. The 20 TB ATTOM data warehouse serves many industries including mortgages, real estate, insurance, marketing, and government through flexible data delivery solutions including bulk file licensing, real estate data APIs, real estate market trends, real estate reports, and more. Promote innovation. It also introduces ATTOM Cloud, the latest innovative solution that provides instant access and streamlines data management.

Media contact:
Christine Stricker
[email protected]

Data and Reporting License:
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