16% Jump in Foreclosures for February 2021

Despite foreclosure and Covid-19 relief measures for homeowners, foreclosures are actually on the rise. A report from ATTOM Data Solutions shows a 16% jump in foreclosures from January to February and notes an upward trend in 29 states. The government’s moratorium bans foreclosures on federally backed loans for homeowners and protects borrowers in the forbearance program. Loans on commercial and investment properties, and properties that are vacant and abandoned don’t garner the same protections, accounting for the slight increase. The yearly data still shows a significant decrease in foreclosures over the same period in 2020.