2020-10-26 Foreclosure Activity at Historical Lows Due to Moratoria
| By:
Brad Beckett
Foreclosure Activity at Historical Lows Due to Moratoria
By Brad BeckettAccording to ATTOM Data’s Q3 2020 U.S. Foreclosure Market Report, foreclosure filings were down 81% from one year ago to the lowest level since they began tracking quarterly filings back in 2008. The report says there were a total of 27,016 properties with foreclosure filings for the quarter. In addition, lenders repossessed 6,076 properties through foreclosure (REO) in Q3, down 22% from Q2 and down 82% from one year ago – another record low since they began tracking. Interestingly, ATTOM says the recent government moratoriums were the source of the low numbers however they cautioned that once those moratoriums are lifted, there will be a “burst of activity.”
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