Foreclosure Activity

Foreclosure Activity

U.S. foreclosure activity up 27% in Oct.

IRVINE, Calif. – Nov. 10, 2016 – ATTOM Data Solutions' October 2016 U.S. Foreclosure Market Report found a surprising month-to-month increase in U.S. foreclosures. And while Florida continues to improve in the state-by-state rankings – it came in at No. 6 in October – Daren Blomquist, senior vice president at ATTOM Data Solutions, thinks foreclosures could again rise in the Sunshine State.

In Florida, one out of every 895 housing units is somewhere in the foreclosure process. That's still more at-risk homes that the national foreclosure rate: one in every 1,258 U.S. housing units. In New Jersey, the top U.S. foreclosure state, one in every 564 housing units is in some state of foreclosure.

"We would expect to see an increase in Florida foreclosure activity in the coming months given the October ruling by the state supreme court that allows lenders to re-file a foreclosure action against a homeowner in default, even if a previous foreclosure case against that homeowner was dismissed and that original foreclosure case was filed more than five years ago – outside the state's statute of limitations for foreclosure," Blomquist said.

Peggy ONeill Headshot
Phone: 561-827-6672
Dated: November 11th 2016
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