10 Places With the Most Foreclosures in 2023 (So Far)

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Cleveland, Ohio
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The COVID-19 pandemic has subsided, but the aftershocks are still reverberating for homeowners.

ATTOM, one of the nation’s leading real estate data providers, reports that foreclosure filings in the first six months of 2023 are up 13% over the same period in 2022. Foreclosure moratoriums that were enacted in 2020 during the pandemic have ended, and lenders are finally dropping the hammer on homeowners who have been unable to keep up with their payments.

Nationally, ATTOM found that 0.13% of all housing units — 1 in every 752 — had a foreclosure filing in the first half of this year.

For their survey, ATTOM analyzed the 223 U.S. metropolitan areas with populations of at least 200,000 people. Following are the large metros with the highest foreclosure filing rates.

Elkhart, Indiana

Indiana water mill
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Foreclosure filing rate in this metropolitan area: 0.25% of housing units during the first half of 2023

While many homeowners are struggling to pay their mortgages in this city of 54,000, the metro area of Elkhart-Goshen ranks No. 3 in the Wall Street Journal/Realtor.com Emerging Housing Markets Index thanks to its lower cost of living and thriving economy.

Philadelphia

Philadelphia, Pennsylvania at dusk
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Foreclosure filing rate in this metropolitan area: 0.25% of housing units during the first half of 2023

The City of Brotherly Love was also an unfortunate member of the top 10 most foreclosure starts in metro areas in 2022 — 7,286, according to ATTOM. But there is help for Philly homeowners through the Residential Mortgage Diversion Program.

Florence, South Carolina

Florence, South Carolina
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Foreclosure filing rate in this metropolitan area: 0.26% of housing units during the first half of 2023

In addition to the increased foreclosures in the Palmetto State, home sales dropped 19% in the first half of 2023 compared with the same period in 2022, according to South Carolina Realtors.

Jacksonville, Florida

Jacksonville, Florida
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Foreclosure filing rate in this metropolitan area: 0.26% of housing units during the first half of 2023

It doesn’t help that homeowners in a state often the target for hurricanes have to pay an average of $6,000 for insurance annually. For Floridians looking for a cheaper cost of living, Money Talks News identifies “6 of the Cheapest Places To Live” in the Sunshine State.

Chicago

Cook County Illinois
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Foreclosure filing rate in this metropolitan area: 0.28% of housing units during the first half of 2023

Geoff Smith, executive director of DePaul University’s Institute for Housing Studies in Chicago, told CBS News that lenders are working through the “backlog” of foreclosures in Chicago and Illinois after the state lifted its COVID-related moratorium in late 2021.

Lakeland, Florida

Lakeland, Florida
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Foreclosure filing rate in this metropolitan area: 0.29% of housing units during the first half of 2023

There’s a big likelihood that home prices will drop in the Lakeland-Winter Haven metro area over the next year, and GOBankingRates said this region in Polk County is the second-most likely in the state to be hit with a housing crisis.

Columbia, South Carolina

Columbia, South Carolina
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Foreclosure filing rate in this metropolitan area: 0.29% of housing units during the first half of 2023

Unfortunately, the state capital was also in ATTOM’s top 10 for highest foreclosure rate in 2022. One positive factor for homeowners is that the cost of living is 5% lower than the national average, according to Payscale.

Fayetteville, North Carolina

Fayetteville, North Carolina
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Foreclosure filing rate in this metropolitan area: 0.30% of housing units during the first half of 2023

The cost of living in this city of more than 200,000 is 6% lower than the national average, according to Payscale. For those struggling to pay their mortgages, the state’s Housing Finance Agency offers counseling and assistance funds.

Atlantic City, New Jersey

Atlantic City, New Jersey
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Foreclosure filing rate in this metropolitan area: 0.33% of housing units during the first half of 2023

According to the Bureau of Labor Statistics, the unemployment rate in this legendary gambling mecca is 7% in the city, twice the national rate (3.4%) and several points above the state rate (3.9%). But if you’ve got a stable job and want a home by the water, check out our list of the “10 Beach Towns With the Most Affordable Homes.”

Cleveland

Cleveland, Ohio
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Foreclosure filing rate in this metropolitan area: 0.33% of housing units during the first half of 2023

Despite it dubious ranking on our list, The Land is drawing millennial homebuyers — members of that generation are buying more expensive homes in the city. For lower-income Clevelanders, the Ohio Housing Finance Agency’s Save the Dream Ohio program aims to help homeowners who are struggling to pay their mortgages.

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