From Daily Mail: The number of Americans losing their homes to banks has risen for the twelfth consecutive month, highlighting mounting pressure in the US housing market.
In February, foreclosure activity reached 38,840 properties – a 20 percent increase compared with the same month last year.
Filings track the full spectrum of the process, from initial lender warnings to the formal repossession of homes after missed mortgage payments.
Although the February total was slightly lower than January, it marked the twelfth straight month of year-over-year increases, showing how Americans are increasingly struggling to pay their bills.
“Foreclosure activity in February marked the twelfth consecutive month of annual increases, extending a gradual upward trend that began early last year,’ said Rob Barber, chief executive of ATTOM, a leading provider of nationwide property data.
Foreclosure starts and completed repossessions have increased significantly, impacting neighborhood property values and reflecting broader financial stress for Americans due to rising taxes and interest rates, the report notes.
Read more at Daily Mail
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