More than 45,000 U.S. properties were in some stage of foreclosure from July through September, according to property data firm Attom. That’s up 34% from the previous quarter, and 68% from a year ago, but still low by historical standards.
In a typical quarter, “we would be getting roughly three times as many loans in foreclosure,” said Rick Sharga, executive vice president at RealtyTrac, an Attom company.
A foreclosure moratorium for federally backed mortgages, along with forbearance plans that let borrowers pause their payments, have kept filings artificially low, Sharga said. But more and more borrowers have exhausted their maximum 18 months of forbearance, and the moratorium expired at the end of July.
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