• About Us
  • Activity
  • Advertising
  • Books
  • Business
  • Contact
  • Dashboard
  • EB5
  • Entertainment
  • feedback
  • Forgot Your Password?
  • Government
  • Home
  • Interviews
  • Login
  • Members
  • Meme generator
  • National
  • Nevada
  • Nevada News and Views
  • Newsmax
  • NN&V Ads
  • Opinion
  • Pick a New Password
  • Politics
  • Polls
  • Privacy Policy
  • Profile
  • Recent comments by me
  • Recent comments on my posts
  • Register
  • Submit post
  • Subscribe
  • Subscription Confirmation
  • Survey
  • Survey
  • Terms of Service
  • Today’s Top 10
  • Travel
  • Travel
  • Travel
  • Welcome!
  • Yop Poll Archive
Nevada News and Views
  • About Us
  • Advertising
  • Contact
  • More
    • Nevada
    • Opinion
    • Business
    • Travel
    • News
    • Sports
  • Facebook

  • Twitter

  • Pinterest

  • RSS

Featured Article

Las Vegas had one of the highest foreclosure rates in the country during third quarter

Las Vegas had one of the highest foreclosure rates in the country during third quarter
The Center Square
October 16, 2021

In this photo taken Wednesday, Nov. 17, 2010 in Las Vegas, a couch left behind at a foreclosed home sits at the end of the driveway.
AP Photo/Julie Jacobson

(Robert Davis) – The Las Vegas metropolitan area had one of the highest foreclosure rates in the country during the third quarter of 2021, according to new data from real estate analytics firm ATTOM Data Solutions.

Among the 220 metro areas ATTOM analyzed, one in every 1,167 Las Vegas homes were in foreclosure in the third quarter, the fifth-highest total in the country. Other metro areas included in the top-5 are Atlantic City, N.J., Peoria, Ill., Bakersfield, Calif., and Cleveland, Ohio.

Last month alone, there were nearly 20,000 properties with foreclosure filings across the country, the report says. That represents a 24% increase from August and a 102% increase from September 2020.

Throughout the entire quarter, there were 45,517 foreclosure filings – which include default notices, scheduled auctions or bank repossessions – that were filed against homes in the U.S. This total represents a 34% increase from the second quarter of 2021, and a 68% increase from this time last year.

Despite the alarming numbers, some analysts say the activity is still below historic norms.

Rick Sharga, executive vice president at RealtyTrac, an ATTOM company, said September’s foreclosure activity is still more than 70% below pre-pandemic levels.

“Even with similar increases in foreclosures over the next few months, we’ll end the year significantly below what we’d see in a normal housing market,” he said in a statement.

One reason for the uptick in foreclosure filings is that the Federal Housing Administration allowed the foreclosure moratorium to sunset on September 30. The order prevented agencies from filing foreclosures against federally insured, single-family properties.

Nevada is also in the process of phasing out its own eviction and foreclosure moratorium. Meanwhile, lawmakers passed Assembly Bill 486 to help distribute more than $360 million in federal relief funds to local landlords and renters.

Sharga said these actions demonstrate the efforts that the mortgage industry and government leaders went through to avoid “unnecessary foreclosures.”

However, with a growing number of borrowers set to exit forbearance, Sharga caveated that “it’s possible that we might see a higher percentage of those borrowers default on their loans.”


By

Robert Davis | The Center Square contributor

Prev postNext post

Related ItemsFeatured Article
Featured Article
October 16, 2021
The Center Square

Related ItemsFeatured Article

More in Featured Article

Nevada police endorse Lombardo, gives Sisolak vote of ‘no confidence’

The Center SquareNovember 10, 2022
Read More
The Washington Monument and United States

Democrats’ letter urges amendment to National Defense Authorization Act

The Center SquareNovember 9, 2022
Read More

Last-Minute Election Eve Observations

N&V StaffNovember 8, 2022
Read More

Election ’22: Game Day!

N&V StaffNovember 8, 2022
Read More

Nevada Democrats outpace Republicans in spending and fundraising for top state races

The Center SquareNovember 8, 2022
Read More

Nevada’s new abortion information page includes complaint form for reporting crisis pregnancy centers

The Center SquareNovember 7, 2022
Read More
Scroll for more
Tap

Subscribe Free By Email

Looking for the best in breaking news and conservative views? Let Chuck do all the work for you! Subscribe to his FREE "Muth's Truths" e-newsletter.

* indicates required
Nevada News and Views
Nevada News & Views is an educational project of Citizen Outreach Foundation, a non-partisan IRS-approved 501(c)(3) organization. It is not associated or affiliated with any political party or group. Nevada News & Views is accessible by the public at no cost. It funds its operations through tax-deductible contributions from donors and supporters and does not accept government money or grants.

TAGS

Featured Article Nevada Politics business Muth's Truths government Opinion Government Muth’s Truths Obama Ron Knecht News Donald Trump GOP Republicans

Copyright © 2022 Citizen Outreach | Maintained by VirtualAlly

Famous Las Vegas magicians get millions in federal shuttered venue grants
State Senator Commits Hari-Carrie at Nevada GOP Meeting in Winnemucca