U.S. Foreclosures Surge in January After End of Pandemic Freeze

Foreclosures on homes in the U.S. surged in January after a pandemic moratorium ended, though they remained well below pre-Covid levels, according to new data from RealtyTrac.

Foreclosure filings such as default notices, scheduled auctions or bank repossessions jumped 29% from a month earlier and more than doubled compared with January 2021, the report said. Lenders repossessed 4,784 properties in the month and started the process on another 11,854 homes.