About 1.45 million homeowners are seriously delinquent as a foreclosure moratorium ends, according to a new report.
Although delinquencies have improved in 12 of the past 14 months, two increases were related to the calendar month and how the dates fell, rather than worsening performance, Fox Business reported, citing data from Black Knight, an analytic company that monitors mortgage and real estate trends.
“While overall delinquency volumes continue to edge closer to pre-pandemic levels, the number of serious delinquencies were still significantly elevated as federal foreclosure moratoria expired at the end of July,” Black Knight said in its report, according to Fox Business.
Those 1.45 million borrowers were at least 90 days delinquent at the end of July — not yet facing foreclosure but in the late stages of the delinquency process, according to the Black Knight data.
That number is 1 million more than at the outset of the coronavirus pandemic, though many of these are currently in forbearance plans with their lenders, Fox Business reported.

WI Guest Author

This correspondent is a guest contributor to The Washington Informer.

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