Foreclosure starts up 219 percent from last year

Crossville TN

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It is important to note, due to "government covid policies and shutdowns", the Moratorium on home foreclosures is finished, time for all the "Too Big to Fail Banks" like Blackrock, that you bailed out in 2008, are ready to take your homes!!! But don't worry Larry Fink formerly of "Lehman Brothers" housing collapse of 2008" will be give his investors a 24% return on the ETF's of a $500,000 investment in turning single family homes into RENTAL PROPERTY. A total of 117,383 U.S. properties started the foreclosure process in the first six months of 2022, up 219 percent from the first half of last year and up 19 percent from the first half of 2020. States that saw the greatest number of foreclosures starts in the first half of 2022 included, California (12,805 foreclosure starts); Florida (11,448 foreclosure starts); Tennessee (10,970 foreclosure starts); Illinois (8,411 foreclosure starts); and Ohio (6,987 foreclosure starts). "It's important to note that many of the foreclosure starts we're seeing today – in fact, much of the overall foreclosure activity we're seeing right now – is on loans that were either already in foreclosure or were more than 120 days delinquent prior to the pandemic," Sharga added. "Many of these loans were protected by the government's foreclosure moratorium, or they would have already been foreclosed on two years ago. There's very little delinquency or default activity that's truly new in the numbers we're tracking." Bank repossessions climb in first half of 2022 Lenders foreclosed (REO) on a total of 20,750 U.S. properties in the first six months of 2022, up 30 percent from the last half of 2021 and up 113 percent from the first half of 2020. States that posted the greatest number of REOs in the first half of 2022 included, Illinois (2,434 REOs); Michigan (2,259 REOs); Pennsylvania (1,290 REOs); California (1,043 REOs); and Florida (1,041 REOs). Q2 2022 foreclosure activity below pre-recession averages in 79 percent of major markets There were a total of 90,139 U.S. properties with foreclosure filings in Q2 2022, up 15 percent from the previous quarter and up 165 percent from a year ago.