Boston Real Estate Investors Association

ATTOM Says Zombie Foreclosure Numbers in Holding Pattern

ATTOM Says Zombie Foreclosure Numbers in Holding Pattern

According to the ATTOM Data’s Q4 2021 Vacant Property and Zombie Foreclosure Report, zombie foreclosures comprise only one of every 13,300 residential properties in U.S.  However, they do caution that this figure is likely to rise following the recent end of the national foreclosure moratoriums.  Across the country, there are 1.3 million (1,312,410) residential properties sitting vacant representing 1.3% (1 in 75 homes).  In addition they point out that most neighborhoods literally have no empty, blight-inducing homes at any stage in the foreclosure process.  Indeed….

“Zombie foreclosures are in a holding pattern this quarter – at least for now,” said Todd Teta, chief product officer with ATTOM. “They’re still totally off the radar screen in most parts of the country, with none in most neighborhoods. But that’s probably going to change soon because lenders can now return to court and take back properties from owners who can’t keep up on their mortgage payments…”

Click here to read the full report at ATTOM.

 

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