The various types of foreclosure filings – default notices,
scheduled auctions, and actual lender repossessions – declined in November.
RealtyTrac, a subsidiary of ATTOM Data Solutions said the aggregate of these legal
actions totaled 10,042 during the month. This is a decline of 14 percent from
October and 80 percent from a year earlier. Much of the downturn can be
attributed to the foreclosure moratoria which have been extended beyond the end
of this year. “It’s not unusual to see foreclosure activity slow down beginning in
and through the holiday season,” said Rick Sharga, executive vice
president at RealtyTrac, an ATTOM Data Solutions company. “Both foreclosure
starts and repossessions were down about 80 percent on a year-over-year basis,
but it might be worth noting that a few cities that may be vulnerable to the
pandemic-driven flight from urban areas to the suburbs – like New York City,
Chicago, and Miami – were among the markets with the highest levels of
foreclosure actions.”

…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Generated by Feedzy