Foreclosures in America are on the rise for the second year in a row. This puts a firm bookend on an 11-year decline in the forced repossession or sale of a home when a homeowner can’t pay the mortgage.
But let’s take a deep breath: The current rise in foreclosure activity is not uniform across the country. Even more than 15 years ago, when the bottom fell out of the housing market, there are more distressed properties in some areas than others. That’s why the data team at Realtor.com® went out to find which places are experiencing high—and growing—percentages of foreclosure filings.
However, before anyone panics, there is no wave of foreclosures threatening to wash across the country, bringing down home values like the epic crash that occurred during the Great Recession. And the foreclosed properties that do make it onto the market will likely be snapped up quickly by buyers frustrated by high prices and the lack of homes for sale.
To continue reading the rest of the article, please click on the source link below:
Foreclosure Rates Are Surging: These 10 U.S. Cities Are Where They’re Up the Most