Challenges to Address in the Anticipated Rise in Foreclosures

The third quarter of 2021 saw the largest quarterly percentage increase of foreclosures since 2014.  Lenders started the foreclosure process on 25,209 properties and repossessed 7,574.  That trend can be seen locally too.  We have witnessed an increase in foreclosure filings in Miami-Dade County.  For instance, one third of all foreclosures filings in 2021 have taken place in August and September alone.  And more filings are anticipated as many of the COVID related forbearance agreements expire.