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