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Home foreclosure activity spiked in May, but it's not a crisis — at least, not yet

Jun 12, 2023
It may be down to layoffs. It may also be down to house-flippers.
Foreclosure activity in May was up 7% from April and 14% over a year ago, according to ​ATTOM Data Solutions.
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What's happening with home foreclosures?

Nov 10, 2021
Now that the federal moratorium on foreclosures has been lifted, foreclosures are on the rise, but many are for properties that were already abandoned or vacant.
Justin Sullivan/Getty Images

Foreclosures rise as pandemic protections expire

Oct 15, 2021
But filings are still well below historical norms. And analysts are not expecting anything like the foreclosure crisis during the last recession.
A lender-owned home for sale in Rialto, California, in February 2008. While foreclosure rates are currently at historic lows, there's been a jump in recent months as pandemic relief ends.
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Foreclosures are at a record low ... for now

Jul 15, 2021
But a CDC moratorium on foreclosures is set to end on July 31. Meanwhile, "seriously delinquent" mortgages have nearly doubled from last year.
While foreclosure rates are currently low, nearly 5% of homeowners have “seriously delinquent” unpaid mortgages. Above, the belongings of a person being evicted sit on the lawn in front of their Columbus, Ohio, home in March.
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More homeowners are back to paying their mortgages

May 3, 2021
But the recovery has been unequal. Black homeowners are at a higher risk of foreclosure when forbearance rules expire, one nonprofit says.
Despite recent trends, more than 2 million mortgages are still in forbearance.
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Biden extends mortgage forbearance, foreclosure relief programs

Feb 17, 2021
Homeowners can request up to six months of additional relief, and the deadline for new applicants is now the end of June.
Saul Loeb/AFP via Getty Images

Detroit hits pause on tax foreclosures to help homeowners during COVID-19

May 13, 2020
Wayne County estimates roughly 10,000 properties were scheduled for tax foreclosure this year, including about 3,200 owner-occupied homes.
Pressing pause on tax foreclosures is a solution to a long-standing problem in Detroit.
Eli Newman

For public good, not for profit.

Who benefited from America's housing bust?

Nov 15, 2019
Millions of Americans lost their homes during the foreclosure crisis. Investigative reporter Aaron Glantz wanted to know who got them.
A foreclosed townhouse in Centreville, Virginia, in 2009.
Paul J. Richards/AFP via Getty Images

How Reno, Nevada, turned its economy into a small powerhouse

Mayor Hillary Schieve said playing on the region's strengths and diversifying its economy helped revive the struggling, post-recession city.
A neon sign welcomes people to Reno, Nevada.
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In some cities, foreclosures are still on the rise

Apr 12, 2019
In cities like Baltimore and Philadelphia, the number of homes in the early stages of foreclosure is higher than it was before the financial crisis.
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