The August 2024 foreclosure report shows a slight decline in US foreclosure activity, with 30,227 filings nationwide. Key states like Nevada, Florida, and Illinois lead in foreclosure rates. The second half of the report provides detailed data on foreclosure trends in states served by BlueHub SUN, including Connecticut, Illinois, and Delaware.
Spring 2024 U.S. housing market: Mortgage rates dip, boosting optimism. Inventory rises with Fed's rate cut plans, amidst high home values and affordability challenges. Opportunities emerge for buyers and sellers in a shifting market landscape.
The timeline for foreclosing on a house varies significantly depending on state-specific legal frameworks and regulations. In some jurisdictions, the foreclosure process can be relatively quick, concluding in just a few months. In others, however, it might extend well over a year. Learn the expected duration of a foreclosure processes in the states that SUN serves.
BlueHub SUN's unique approach to aiding homeowners in financial distress, offers solutions where traditional lenders may not. Lauren Taylor, a single mother, was saved from losing her home to a balloon payment through a timely loan from SUN. Kevin Russell, a single father, avoided eviction and increased his home equity with SUN's refinance loan.
In the first half of 2023, foreclosure rates have maintained their upward trend, surpassing those in 2022 and approaching pre-pandemic levels.
While foreclosures stay well below pre-pandemic levels, 2022 foreclosures have exceeded 2021, indicating a continued need for foreclosure relief.
Latest foreclosure trends: both troubling and encouraging.
Foreclosures have increased since the beginning of the pandemic. At the same time, Real Estate Owned foreclosure sales have dropped significantly.
