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Foreclosure Activity Rises in First Post-Moratorium Month

Posted To: MND NewsWire

The other shoe didn’t drop last month, but maybe the laces did start to unravel. ATTOM reports that, within a month after the government’s pandemic-related moratorium lifted, foreclosure filings nationwide rose 27 percent and were 60 percent higher than in August 2020 when the moratorium was in full force . There were a total of 15,838 properties that received a foreclosure filing during the month, either a notice of default, scheduled auction, or bank repossession. “As expected, foreclosure activity increased as the government’s foreclosure moratorium expired, but this doesn’t mean we should expect to see a flood of distressed properties coming to market,” said Rick Sharga, Executive Vice President at RealtyTrac, an ATTOM company. “We’ll continue to see foreclosure activity increase over the…(read more)

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