The share of borrowers in arrears for six months or more accounted for about half of total delinquencies in December, with many still relying on options, such as forbearance, loan modifications and other government provisions, to avoid to enter the entry.
Before the brunt of the coronavirus pandemic began to be felt in March 2020, economists were saying that housing markets and lenders were benefiting from more homeowners being able to stay up to date on their monthly mortgage payments, in part to cause of refinancing to reduce mortgage rates.
Frank Nothaft, chief economist at CoreLogic, said another factor is the level of local and national job creation, “supporting income growth and allowing more families to repay their loans”.
The Winston-Salem metro area started 2022 with a significant year-over-year increase in foreclosure filings, though still at a near-historic low, according to a report by Atom Data Solutions published Feb. 10.
Attom, a national real estate search firm, listed the five-county area with 34 filings for January, down from December but up from 18 in January 2021.
Forsyth County, as usual, had the most with 21. Davidson County followed with seven, Stokes County with three, Davie County with two and Yadkin County with one.