Tri-Cities area foreclosure filings posted a 21.5% increase in January when compared to January last year, according to Attom Data Solutions’ Foreclosure Report. There was a total of 113 new filings last month compared to 93 a year ago.
The region’s overall foreclosure rate continues to be at pre-recession levels of about 0.5%.
Lenders started 58 repossessions in the area counties compared to 45 January last year for a 28.9% year-over-year increase. Sullivan Co. accounted for over half of all of the region’s repossessions.
Fifty-five trustee sales (up 14.6%) totaled 55 compared to 48 last year.
The two largest county markets saw opposite year-over-year new filings. Total filings in Sullivan increased by 86.4% while they declined by 10.7% in Washington Co. TN.
High-level findings from Attom’s January report were:
– There were 60,085 U.S. properties with foreclosure filings in January 2020, up 7 % from a year ago.
– Lenders started the foreclosure process for the first time on 26,858 property owners in January 2020, down 9 % from a year ago.
Here’s a capsule accounting of last month’s filings compared to filing January last year.
Repossessions (REO)
Sullivan 24 – 10
Washington TN 12 – 14
Hawkins 5 – 6
Washington VA 5
Greene 4 – 8
Carter 3 – 5
Johnson 1 – 1
Bristol 1 – 0
Unicoi 0 – 1
Notices of trustee sale
Sullivan 17 – 12
Washington TN 13 – 14
Hawkins 5 – 4
Greene – 5 – 6
Bristol 3 – 1
Unicoi 3 – 1
Washington VA 2 -2
Categories: REAL ESTATE
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