Top 10 Zip Codes with Highest Zombie Foreclosures
According to the ATTOM Data’s Q2 2022 Vacant Property and Zombie Foreclosure Report, there were 1.3 million (1,304,007) residential properties in the United States sitting vacant, representing 1.3%, or one in 76 homes, across the nation.
Taking a deep dive into that data reveals those zip codes with the highest zombie foreclosure rates among zips with at least 1k residential properties and 100 of them facing possible foreclosure. Interestingly, several zip codes are in Cleveland, Ohio.
“The incidence of zombie-foreclosures tends to be higher in cases where the foreclosure process has dragged on for many months and sometimes even for years…We’re now seeing properties where the borrower was already in default prior to the government’s moratorium re-enter the foreclosure process, and undoubtedly some of these homes will have been vacated over the past 26 months.” Said Rick Sharga, executive vice president of market intelligence at ATTOM.