Important Takeaways:

• Home foreclosures shoot up 10% amid soaring interest rates, job losses and higher grocery and utility bills eating into earnings – here are the state’s WORST affected
• Home foreclosures are on the up across the US as Americans continue to battle against soaring interest rates and rising costs.
• Last month, 37,679 properties had a foreclosure filing, according to fresh figures from real estate data provider ATTOM – up 10 percent from the month prior.
• Foreclosure occurs when an owner can no longer make their monthly mortgage payments and must forfeit the rights to their property as a result. Foreclosure filings include default notices, scheduled auctions and bank repossessions.
• The figures lay bare a growing housing affordability crisis in the US. But a disparity remains across America, with some states faring much worse than others.
• Delaware recorded the highest number of filings last month, with one for every 2,269 housing units.
• Nevada had the second highest number of foreclosure filings in January – at one in every 2,272 housing units.
• Indiana had one in every 2,499 housing units, Maryland had one in every 2,588 and New Jersey had one in every 2,647.
• Foreclosures have been on the rise since the end of 2021, as banks make up for lost time after state and federal foreclosure bans expired.

Read the original article by clicking here.