The report featured the rise of foreclosure completions (or REOs) in October, which reached the highest point in 2019. Lenders repossessed 13,484 U.S. properties through REOs in October, up 14 percent from the previous month.
ATTOM’s October foreclosure report also noted that foreclosure starts increased monthly in 36 states. Lenders started the foreclosure process on 28,667 U.S. properties in October, up 17 percent from last month but down 1 percent from a year ago — the first double-digit month-over-month increase since February 2018.
On the state level, states that saw double digit increases from last month included: Arizona (up 52 percent); Ohio (up 52 percent); Florida (up 48 percent); New Jersey (up 47 percent); and California (up 36 percent).
On the other hand, 13 states including Washington, DC posted month-over-month decreases in foreclosure starts in October, including Maryland (down 42 percent); Idaho (down 36 percent); Delaware (down 32 percent); Nebraska (down 26 percent); and Utah (down 25 percent).
Suraj Shrestha is an associate at Harborside Partners. He has been taking the lead role on research projects; to develop and implement online marketing strategies for search engine optimization and social media marketing. He is one of the core parts for helping to grow business revenue and the company’s online presence.