Summary
Foreclosure rates in the U.S. are increasing as many homeowners struggle with high costs and economic uncertainty. According to data from ATTOM, over 35,000 properties had foreclosure filings in November, indicating ongoing challenges in the housing market. The report shows that certain states have higher foreclosure rates, and this trend has continued for several months.
Key Facts
- In November, over 35,000 properties in the U.S. had foreclosure filings.
- A foreclosure occurs when a homeowner cannot keep up with mortgage payments, leading to repossession by the lender.
- Nationwide, 1 in every 3,992 housing units had a foreclosure filing in November.
- Delaware, South Carolina, Nevada, New Jersey, and Florida had the highest foreclosure rates.
- The U.S. saw 23,720 foreclosure starts in November.
- Florida, Texas, and California had the most foreclosure starts.
- Completed foreclosures were highest in Texas, California, and Florida.
- Foreclosures in November increased by 26% compared to the previous year.
