Thanks to the moratorium, the number of foreclosures fell by 61%. But the volume of seriously overdue loans remains high.

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In the first half of 2021, the number of home mortgage foreclosure applications hit a new all-time low.

That’s according to Attom Data Solutions LLC, a real estate database company in Irvine, California. In the first six months of 2021, there were a total of 65,082 properties in the United States with forced foreclosures – notices of default, scheduled auctions or withdrawals of bank title deeds. This is 61% less than last year and 78% less than two years ago.

The federal government’s moratorium on foreclosures has been extended until July 31. CARES mortgage waiver programs also helped avert financial hardship as the pandemic hit the U.S. economy.

Read the full story at cleveland.com’s sister site, Cleveland Business Journal.

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