General World News

Expect a foreclosure spike in the coming months

Distressed mortgages dating back to the height of the pandemic are expected to fuel a jump in foreclosure activity over the next 12 months, although the foreclosure rate is still expected to remain below the pre-pandemic historical average, a new report from Auction.com contends.

The prediction by one of the nation’s leading marketplaces for distressed assets, is based on a survey of some 50 Auction.com clients, including private-sector mortgage servicers and government-sponsored enterprises (GSEs). The survey, called the Seller Insights report, shows that nine in 10 mortgage servicers expect their foreclosure volume to increase over the next 12 months — with 74% anticipating a details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com