Foreclosure Deposits Remain At Near Historical Levels In The Triad In November | Local
Until recently, most foreclosures that took place in 2020 and 2021 were related to vacant and abandoned properties.
âAfter a first wave after the government’s moratorium ends, it looks like foreclosure activity may slow down as we move towards the end of the year,â said Rick Sharga, branch executive vice president from Attom RealtyTrac.
“Despite concerns over a wave of pandemic defaults, mortgage default rates and foreclosure starts have continued to decline due to government and industry programs and the recovery of the US economy. “
Sharga said the November foreclosure filing data “suggests that the ‘forbearance equals foreclosure’ story was incorrect.” “
âThe efforts of the government and the mortgage services industry have potentially prevented millions of unnecessary foreclosures due to COVID-19. “
For the Charlotte-Concord-Gastonia metro in the 10 counties, there were 119 deposits in November, against 139 in October and 71 in November 2020,
For the Durham-Chapel Hill metro in the four counties, there were 15 depots in November, compared to 39 in October and 10 in November 2020,
For the Raleigh-Cary metro in the three counties, there were 55 depots in November, compared to 62 in October and 30 in November 2020.