A year into pandemic, home foreclosures are rare

Lender moratoriums are keeping home foreclosures at unheard of low levels.

In February, only 11,281 nationwide home foreclosure notices were recorded — down 77% from a year earlier, according to the latest report from Attom Data Solutions.

“Extensions to the federal government’s foreclosure moratorium and CARES Act mortgage forbearance program continue to keep foreclosure activity historically low,” Rick Sharga, executive vice president of RealtyTrac, an Attom Data Solutions company, said in the report. “These government actions, and the efforts of lenders and mortgage servicing companies, have helped millions of homeowners avoid foreclosure during a year-long global pandemic and a recession that resulted in 22 million lost jobs.”

https://www.seattletimes.com/business/real-estate/a-year-into-pandemic-home-foreclosures-are-rare/