Top 12 housing markets where foreclosures are spiking
many Gulf Coast markets are just now seeing an uptick in foreclosures from natural disasters in 2017. Servicers offered forbearances and foreclosure moratoriums in the initial aftermath of Hurricanes Harvey and Irma and are now starting to resume normal default servicing operations.
“We saw an initial foreclosure moratorium in those markets, to give people relief who had been affected by the hurricanes, but now lenders are playing catch-up and actually filing some of those deferred foreclosures,” said Attom Senior Vice President Daren Blomquist.
“The effects have masked that there are more widespread increases in foreclosure activity,” he added.
Here’s a look at 12 housing markets where foreclosure filings are surging. The October foreclosure data, from Attom, is ranked by the largest annual gains in foreclosure filings for Metropolitan Statistical Areas with at least 100,000 housing units. The filing totals include preforeclosure notices; public foreclosure auctions; and completed foreclosure actions.
Corpus Christi, Texas
Number of housing units: 188,648
One foreclosure filing for every 2,007 housing units
Number of housing units: 2,448,566
One foreclosure filing for every 1,997 housing units
Number of housing units: 174,351
One foreclosure filing for every 2,027 housing units