Foreclosure filings on the rise, report finds
CBS America · Just In
CBS America
Just In
As more U.S. homeowners struggle to keep up with mortgage payments and maintenance costs, new data shows the number of property foreclosures is steadily rising.
Breakdown
- Foreclosure filings in the US have risen for six consecutive months. 11s
- Filings are up 18% from the same period last year, potentially surpassing last year's totals. 17s
- Despite the increase, foreclosure levels remain below those seen before the pandemic. 42s
- Inflation and rising homeownership costs, such as insurance, are major contributing factors. 49s
- Assistance programs are available for homeowners, and the ongoing government shutdown could impact mortgage rates if prolonged. 1m 39s