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Foreclosure Rise Despite COVID Moratoriums
Friday, March 12, 2021
While the federal moratoriums are keeping the numbers
low, ATTOM Data Solutions reports that 16 percent more residential properties
received a foreclosure filing in February compared to a month earlier. The 11,281
properties that were subject to a default notice, scheduled auction or a bank
repossession was down 77 percent year-over-year. Nationwide one in every 12,182
housing units were the recipient of a filing in February 2021. "Extensions to the Federal Government's foreclosure moratorium and CARES Act
mortgage forbearance programs continue to keep foreclosure activity
historically low," said Rick Sharga, executive vice president of RealtyTrac, an
ATTOM Data Solutions company. "These government actions, and the efforts of lenders
and mortgage servicing companies, have helped millions of homeowners avoid
foreclosure during a year-long global pandemic and a recession that resulted in
22 million lost jobs."
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