ATTOM Data Solutions' October 2016 U.S. Foreclosure Market Report™ revealed that foreclosure activity in the U.S. increased by 27% on a moth-over-month basis but deceased by 8% compared to October 2015. The staff at RealtyTrac takes a look at what was the biggest month-over-month increase since August 2007.
Additionally, 28 states as well Washington D.C. experienced year-over-year increases in foreclosure activity in October. Daren Blomquist, senior vice president at ATTOM Data Solutions, spoke on FHA and VA loans with low down payments originated during the housing recovery appearing to be the most susceptible to foreclosure:
“Our data shows FHA and VA loans combined represent 49 percent of all active foreclosure inventory for loans originated in the seven years ending in 2015. By comparison, FHA and VA loans only represent 12 percent of all active foreclosure inventory among loans originated in the previous seven-year period, from 2002 to 2008.”