Foreclosure rates growing

Photo by: WDAY Radio Staff
Photo by: WDAY Radio Staff

(Los Angeles, CA) -- Foreclosure rates are increasing across the country.

According to real estate data analytics firm ATTOM, U.S. homeowners filed 22-percent more foreclosures this quarter, compared to the same time last year.

ATTOM CEO Rob Barber says foreclosures due to the pandemic and unemployment rates are some of the reasons we're seeing more filings. The pandemic alone caused around two-million homeowners to fall behind on their mortgages.

New York, Chicago and Los Angeles were the leaders in foreclosures for large cities.