Foreclosure Starts Jump Nationwide
According to ATTOM Data’s Q3 2021 U.S. Foreclosure Market Report, lenders started the foreclosure process on 25,209 U.S. properties in Q3, up 32% from Q2 and up 67% from a year ago. ATTOM says this is the first double digit quarterly percent increase since 2014. Overall, there were a total of 45,517 properties with foreclosure filings in the U.S. This figure is up 34% from Q2 and up 68% from one year ago. In addition, lenders repossessed 7,574 U.S. properties through foreclosure (REO) in Q3, up 22% from Q2 and up 46% from one year ago – the first quarterly increase since Q1 2016.
“Despite the increased level of foreclosure activity in September, we’re still far below historically normal numbers,” said Rick Sharga, executive vice president at RealtyTrac, an ATTOM company.