While 2021 foreclosure rates were the lowest ever, there were ZIPS, metros and states with comparably higher foreclosure rates.
Recent Report Indicates Lowest Foreclosure Rate Ever
ATTOM’s recently released Year-End 2021 US Foreclosure Market Report indicated that 2021’s foreclosure filing rate was the lowest ever since ATTOM began tracking this data point in 2006. (Please read this week’s 2021 Foreclosures Hit All-Time Low post also calendared this week.)
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States with Highest Foreclosure Rates in 2021
- Nevada – 0.26%
- Illinois – 0.23%
- Florida – 0.21%
- Delaware – 0.21%
- New Jersey – 0.19%
- Ohio -0.18%
- South Carolina – 0.15%
- Indiana – 0.115%
- Connecticut – 0.13%
- Maryland – 0.13%
Metros with Populations of 200,000+ with Highest Foreclosure Rates in 2021
- Cleveland OH – 0.37%
- Las Vegas NV – 0.31%
- Lake Havasu AZ – 0.30%
- Peoria IL – 0.30%
- Atlantic City NJ – 0.29%
- Miami FL -0.25%
- Jacksonville FL – 0.25%
- Louis MO – 0.22%
Top 10 ZIPS with Highest Foreclosure Rates in 2021
- 62204 – East Saint Louis IL – 3.78%
- 62203 – East Saint Louis IL – 3.19%
- 62205 – East Saint Louis IL – 3.05%
- 62207 – East Saint Louis IL – 2.93%
- 62206 – East Saint Louis IL – 2.33%
- 62201 – East Saint Louis IL – 1.78%
- 66257 – Marissa IL – 1.77%
- 77327 – Cleveland TX – 1.67%
- 33870 – Sebring FL – 1.57%
- 44108 – Cleveland OH – 1.48%
Foreclosure Starts at Record Low Nationwide
According to Rick Sharga, executive vice president with RealtyTrac, “The government’s foreclosure moratorium, the mortgage forbearance program, and the mortgage servicing guidelines enacted by the DFPB in August have kept foreclosure starts artificially low over the past year. While the recovering economy should prevent a huge increase in defaults, we should see a gradual increase in foreclosure activity as these programs expire, and servicers exhaust all loan modification options for delinquent borrowers.”
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States with Greatest Decline in Foreclosure Rates from 2020
- Maryland – -81%
- Oklahoma – -70%
- Idaho – -64%
- Nebraska – -63%
- Connecticut – -60%
4 States Saw Annual Increase in Foreclosure Starts in 2021
- South Dakota – +22%
- Vermont – +36%
- North Dakota – +71%
- Nevada – +85%
Thanks to ATTOM.
