Page 23 – Safeguard Properties

Foreclosure Rates by State – April 2025

Posted on May 21, 2025May 21, 2025 by Safeguard

Industry Update
May 16, 2025

Source: ATTOM

In April 2025, the U.S. housing market saw a continued annual increase in foreclosure activity, with 36,033 properties with foreclosure filings—up 0.4 percent from March and 13.9 percent higher than a year ago. While activity remains below historical levels, the steady rise in both foreclosure starts and completions signals mounting economic pressures on some homeowners.

Foreclosure starts rose 0.8 percent from the previous month and jumped 16.1 percent year-over-year, while completed foreclosures (REOs) declined slightly month-over-month but increased 23.3 percent annually—marking the second consecutive month of yearly gains. These trends highlight a gradual but persistent escalation in foreclosure proceedings.

Rob Barber, CEO of ATTOM, noted that while foreclosure activity continued its gradual climb—with both starts and completions up annually—overall volumes remain below historical norms. The year-over-year increases may suggest that some homeowners are beginning to feel the effects of persistent economic pressures.

Foreclosure Rates by State

Foreclosure rates saw an increase from the previous month and the previous year. Read on for April 2025 foreclosure rates across all 50 states, starting with the state that had the worst foreclosure rate.

South Carolina

Ranked 1st nationwide, South Carolina saw one foreclosure for every 2311 housing units in April 2025. Out of 2,401,638 housing units statewide, 1039 properties entered foreclosure. The counties with the highest foreclosure rates were Dorchester, Kershaw, Berkeley, Oconee, Colleton.

Illinois

In April 2025, Illinois recorded the 2nd worst foreclosure rate in the U.S., with one in every 2405 housing units facing foreclosure. Out of 5,443,501 housing units statewide, 2263 properties entered foreclosure. The counties with the highest foreclosure rates were Dewitt, Macoupin, Livingston, Rock Island, Madison.

Florida

Taking the 3rd spot nationally, Florida had a foreclosure rate of one in every 2526 housing units last month. Out of 10,082,356 housing units statewide, 3992 properties entered foreclosure. The counties with the highest foreclosure rates were Charlotte, Citrus, Calhoun, Santa Rosa, Bay.

Delaware

Delaware placed 4th in foreclosure rankings for April 2025, with one foreclosure per 2617 housing units. Out of 457,958 housing units statewide, 175 properties entered foreclosure. The counties with the highest foreclosure rates were Kent, New Castle, Sussex.

Nevada

Nevada led the nation with the 5th highest foreclosure rate in April 2025, reporting one foreclosure for every 2944 housing units. Out of 1,307,338 housing units statewide, 444 properties entered foreclosure. The counties with the highest foreclosure rates were Clark, Lyon, Nye, Churchill, White Pine.

Ohio

Ranked 6th nationwide, Ohio saw one foreclosure for every 3002 housing units in April 2025. Out of 5,271,573 housing units statewide, 1756 properties entered foreclosure. The counties with the highest foreclosure rates were Jefferson, Ashtabula, Cuyahoga, Highland, Marion.

Indiana

In April 2025, Indiana recorded the 7th worst foreclosure rate in the U.S., with one in every 3096 housing units facing foreclosure. Out of 2,953,344 housing units statewide, 954 properties entered foreclosure. The counties with the highest foreclosure rates were Grant, Morgan, Noble, Lake, Wayne.

Alabama

Taking the 8th spot nationally, Alabama had a foreclosure rate of one in every 3143 housing units last month. Out of 2,316,192 housing units statewide, 737 properties entered foreclosure. The counties with the highest foreclosure rates were Monroe, Montgomery, Henry, Coffee, Cullman.

Connecticut

Connecticut placed 9th in foreclosure rankings for April 2025, with one foreclosure per 3168 housing units. Out of 1,530,197 housing units statewide, 483 properties entered foreclosure. The counties with the highest foreclosure rates were Windham, Litchfield, New Haven, Fairfield, Tolland.

Louisiana

Louisiana led the nation with the 10th highest foreclosure rate in April 2025, reporting one foreclosure for every 3187 housing units. Out of 2,094,002 housing units statewide, 657 properties entered foreclosure. The counties with the highest foreclosure rates were Ascension, Livingston, West Baton Rouge, Tangipahoa, Iberville.

Texas

Ranked 11th nationwide, Texas saw one foreclosure for every 3289 housing units in April 2025. Out of 11,890,808 housing units statewide, 3615 properties entered foreclosure. The counties with the highest foreclosure rates were Liberty, Wood, Bell, Coryell, Freestone.

Iowa

In April 2025, Iowa recorded the 12th worst foreclosure rate in the U.S., with one in every 3296 housing units facing foreclosure. Out of 1,427,175 housing units statewide, 433 properties entered foreclosure. The counties with the highest foreclosure rates were Jasper, Emmet, Wayne, Wapello, Louisa.

Georgia

Taking the 13th spot nationally, Georgia had a foreclosure rate of one in every 3299 housing units last month. Out of 4,483,873 housing units statewide, 1359 properties entered foreclosure. The counties with the highest foreclosure rates were Crawford, Cobb, Houston, Dawson, Irwin.

New Jersey

New Jersey placed 14th in foreclosure rankings for April 2025, with one foreclosure per 3347 housing units. Out of 3,775,842 housing units statewide, 1128 properties entered foreclosure. The counties with the highest foreclosure rates were Cumberland, Salem, Sussex, Gloucester, Burlington.

Utah

Utah led the nation with the 15th highest foreclosure rate in April 2025, reporting one foreclosure for every 3389 housing units. Out of 1,193,082 housing units statewide, 352 properties entered foreclosure. The counties with the highest foreclosure rates were Tooele, Carbon, Sevier, Garfield, Wasatch.

Maryland

Ranked 16th nationwide, Maryland saw one foreclosure for every 3550 housing units in April 2025. Out of 2,545,532 housing units statewide, 717 properties entered foreclosure. The counties with the highest foreclosure rates were Baltimore City, Charles, Prince George’s County, Calvert, Kent.

Alaska

In April 2025, Alaska recorded the 17th worst foreclosure rate in the U.S., with one in every 3752 housing units facing foreclosure. Out of 318,927 housing units statewide, 85 properties entered foreclosure. The counties with the highest foreclosure rates were North Slope, Matanuska-Susitna, Fairbanks North Star, Anchorage, Southeast Fairbanks.

California

Taking the 18th spot nationally, California had a foreclosure rate of one in every 3893 housing units last month. Out of 14,532,683 housing units statewide, 3733 properties entered foreclosure. The counties with the highest foreclosure rates were Lake, Mendocino, Shasta, Butte, Kern.

Michigan

Michigan placed 19th in foreclosure rankings for April 2025, with one foreclosure per 3958 housing units. Out of 4,599,683 housing units statewide, 1162 properties entered foreclosure. The counties with the highest foreclosure rates were Shiawassee, Crawford, Montmorency, Gratiot, Genesee.

Oklahoma

Oklahoma led the nation with the 20th highest foreclosure rate in April 2025, reporting one foreclosure for every 3971 housing units. Out of 1,763,036 housing units statewide, 444 properties entered foreclosure. The counties with the highest foreclosure rates were Greer, Garfield, Muskogee, Cleveland, Okfuskee.

Pennsylvania

Ranked 21st nationwide, Pennsylvania saw one foreclosure for every 4304 housing units in April 2025. Out of 5,779,663 housing units statewide, 1343 properties entered foreclosure. The counties with the highest foreclosure rates were Philadelphia, Delaware, Greene, Pike, Tioga.

North Carolina

In April 2025, North Carolina recorded the 22nd worst foreclosure rate in the U.S., with one in every 4454 housing units facing foreclosure. Out of 4,815,195 housing units statewide, 1081 properties entered foreclosure. The counties with the highest foreclosure rates were Perquimans, Hoke, Scotland, Jones, Gates.

Arizona

Taking the 23rd spot nationally, Arizona had a foreclosure rate of one in every 4655 housing units last month. Out of 3,142,443 housing units statewide, 675 properties entered foreclosure. The counties with the highest foreclosure rates were Pinal, Mohave, Santa Cruz, Navajo, Yuma.

New Mexico

New Mexico placed 24th in foreclosure rankings for April 2025, with one foreclosure per 4701 housing units. Out of 949,524 housing units statewide, 202 properties entered foreclosure. The counties with the highest foreclosure rates were Valencia, Chaves, Hidalgo, Otero, Roosevelt.

Colorado

Colorado led the nation with the 25th highest foreclosure rate in April 2025, reporting one foreclosure for every 5070 housing units. Out of 2,545,124 housing units statewide, 502 properties entered foreclosure. The counties with the highest foreclosure rates were Sedgwick, Pueblo, Logan, Gilpin, Morgan.

New York

Ranked 26th nationwide, New York saw one foreclosure for every 5129 housing units in April 2025. Out of 8,539,536 housing units statewide, 1665 properties entered foreclosure. The counties with the highest foreclosure rates were Chemung, Richmond, Orange, Rockland, Nassau.

Idaho

In April 2025, Idaho recorded the 27th worst foreclosure rate in the U.S., with one in every 5284 housing units facing foreclosure. Out of 776,683 housing units statewide, 147 properties entered foreclosure. The counties with the highest foreclosure rates were Oneida, Washington, Butte, Caribou, Payette.

Massachusetts

Taking the 28th spot nationally, Massachusetts had a foreclosure rate of one in every 5442 housing units last month. Out of 3,014,657 housing units statewide, 554 properties entered foreclosure. The counties with the highest foreclosure rates were Dukes, Hampden, Plymouth, Bristol, Worcester.

Virginia

Virginia placed 29th in foreclosure rankings for April 2025, with one foreclosure per 5747 housing units. Out of 3,654,784 housing units statewide, 636 properties entered foreclosure. The counties with the highest foreclosure rates were Covington City, Mathews, Petersburg City, Middlesex, Buena Vista City.

Arkansas

Arkansas led the nation with the 30th highest foreclosure rate in April 2025, reporting one foreclosure for every 5761 housing units. Out of 1,382,664 housing units statewide, 240 properties entered foreclosure. The counties with the highest foreclosure rates were Desha, Lawrence, Lonoke, Hot Spring, Bradley.

Wyoming

Ranked 31st nationwide, Wyoming saw one foreclosure for every 5854 housing units in April 2025. Out of 275,131 housing units statewide, 47 properties entered foreclosure. The counties with the highest foreclosure rates were Hot Springs, Fremont, Crook, Natrona, Laramie.

Maine

In April 2025, Maine recorded the 32nd worst foreclosure rate in the U.S., with one in every 6221 housing units facing foreclosure. Out of 746,552 housing units statewide, 120 properties entered foreclosure. The counties with the highest foreclosure rates were Somerset, Aroostook, Knox, Penobscot, Franklin.

Tennessee

Taking the 33rd spot nationally, Tennessee had a foreclosure rate of one in every 6369 housing units last month. Out of 3,095,472 housing units statewide, 486 properties entered foreclosure. The counties with the highest foreclosure rates were Lake, Houston, Henderson, Hickman, Benton.

Kentucky

Kentucky placed 34th in foreclosure rankings for April 2025, with one foreclosure per 6862 housing units. Out of 2,010,655 housing units statewide, 293 properties entered foreclosure. The counties with the highest foreclosure rates were Grant, Bracken, Boyd, Estill, Rowan.

North Dakota

North Dakota led the nation with the 35th highest foreclosure rate in April 2025, reporting one foreclosure for every 7209 housing units. Out of 374,866 housing units statewide, 52 properties entered foreclosure. The counties with the highest foreclosure rates were Burke, Dunn, Stark, Walsh, Ward.

Oregon

Ranked 36th nationwide, Oregon saw one foreclosure for every 7384 housing units in April 2025. Out of 1,838,631 housing units statewide, 249 properties entered foreclosure. The counties with the highest foreclosure rates were Sherman, Union, Jefferson, Crook, Clackamas.

Missouri

In April 2025, Missouri recorded the 37th worst foreclosure rate in the U.S., with one in every 7552 housing units facing foreclosure. Out of 2,809,501 housing units statewide, 372 properties entered foreclosure. The counties with the highest foreclosure rates were Bollinger, Chariton, Pemiscot, Mississippi, Saint Clair.

Washington

Taking the 38th spot nationally, Washington had a foreclosure rate of one in every 7641 housing units last month. Out of 3,262,667 housing units statewide, 427 properties entered foreclosure. The counties with the highest foreclosure rates were Mason, Cowlitz, Grays Harbor, Benton, Clallam.

Minnesota

Minnesota placed 39th in foreclosure rankings for April 2025, with one foreclosure per 7752 housing units. Out of 2,519,538 housing units statewide, 325 properties entered foreclosure. The counties with the highest foreclosure rates were Grant, Faribault, Mille Lacs, Pope, Pennington.

New Hampshire

New Hampshire led the nation with the 40th highest foreclosure rate in April 2025, reporting one foreclosure for every 8053 housing units. Out of 644,253 housing units statewide, 80 properties entered foreclosure. The counties with the highest foreclosure rates were Cheshire, Coos, Merrimack, Hillsborough, Rockingham.

West Virginia

Ranked 41st nationwide, West Virginia saw one foreclosure for every 8266 housing units in April 2025. Out of 859,653 housing units statewide, 104 properties entered foreclosure. The counties with the highest foreclosure rates were Pendleton, Wyoming, Randolph, Wetzel, Morgan.

Nebraska

In April 2025, Nebraska recorded the 42nd worst foreclosure rate in the U.S., with one in every 8307 housing units facing foreclosure. Out of 855,631 housing units statewide, 103 properties entered foreclosure. The counties with the highest foreclosure rates were Burt, Frontier, Knox, Nemaha, Hamilton.

Rhode Island

Taking the 43rd spot nationally, Rhode Island had a foreclosure rate of one in every 8502 housing units last month. Out of 484,615 housing units statewide, 57 properties entered foreclosure. The counties with the highest foreclosure rates were Providence, Kent, Bristol, Washington, Newport.

Hawaii

Hawaii placed 44th in foreclosure rankings for April 2025, with one foreclosure per 8559 housing units. Out of 564,905 housing units statewide, 66 properties entered foreclosure. The counties with the highest foreclosure rates were Kauai, Hawaii, Honolulu, Maui.

Mississippi

Mississippi led the nation with the 45th highest foreclosure rate in April 2025, reporting one foreclosure for every 9386 housing units. Out of 1,332,811 housing units statewide, 142 properties entered foreclosure. The counties with the highest foreclosure rates were Franklin, Sunflower, Grenada, Itawamba, Copiah.

Wisconsin

Ranked 46th nationwide, Wisconsin saw one foreclosure for every 9824 housing units in April 2025. Out of 2,750,750 housing units statewide, 280 properties entered foreclosure. The counties with the highest foreclosure rates were Menominee, Kenosha, Racine, Taylor, Marinette.

Kansas

In April 2025, Kansas recorded the 47th worst foreclosure rate in the U.S., with one in every 12600 housing units facing foreclosure. Out of 1,285,221 housing units statewide, 102 properties entered foreclosure. The counties with the highest foreclosure rates were Hamilton, Kiowa, Morton, Wabaunsee, Rush.

Montana

Taking the 48th spot nationally, Montana had a foreclosure rate of one in every 15847 housing units last month. Out of 522,939 housing units statewide, 33 properties entered foreclosure. The counties with the highest foreclosure rates were Powder River, Mineral, Glacier, Chouteau, Custer.

Vermont

Vermont placed 49th in foreclosure rankings for April 2025, with one foreclosure per 18726 housing units. Out of 337,072 housing units statewide, 18 properties entered foreclosure. The counties with the highest foreclosure rates were Rutland, Windham, Bennington, Windsor, Orange.

South Dakota

South Dakota ranked 50th in foreclosure rate in April 2025, reporting one foreclosure for every 30685 housing units. Out of 398,903 housing units statewide, 13 properties entered foreclosure. The counties with the highest foreclosure rates were Pennington, Yankton, Codington, Minnehaha.

For full report, please click the source link above.

FEMA Internal Agency Review Published Ahead of Hurricane Season

Posted on May 21, 2025 by Safeguard

Industry Update
May 15, 2025

Source: CNN

Hurricane preparations at Federal Emergency Management Agency have slowed to a crawl, and the disaster relief agency “is not ready” for the June 1 start to the season, according to an internal agency review obtained by CNN.

Prepared at the direction of new acting Administrator David Richardson as part of a problem-solving exercise at FEMA, the document outlines the agency’s struggles in recent months and raises a number of red flags ahead of hurricane season, including a general uncertainty around its mission, lack of coordination with states and other federal agencies, low morale and new red tape that will likely slow responses.

“As FEMA transforms to a smaller footprint, the intent for this hurricane season is not well understood,” the document states. “Thus FEMA is not ready.”

President Donald Trump and his allies have criticized FEMA for months as ineffective and unnecessary. Homeland Security Secretary Kristi Noem, whose department oversees FEMA, has vowed to “eliminate” the agency. FEMA’s previous acting administrator, former Navy SEAL Cameron Hamilton, was fired last week after telling Congress he did not believe the agency should be eliminated.

Richardson – a Department of Homeland Security official, former Marine combat veteran and martial-arts instructor – is now in charge and vowing to enforce President Trump’s agenda. In an all-hands meeting on his first day at FEMA, Richardson told agency staff that he will “run right over” anyone who tries to prevent him from carrying out the president’s mission.

“FEMA is part of the Department of Homeland Security, and don’t forget that,” Richardson told agency staff. “I, and I alone, speak for FEMA. I am the president’s representative at FEMA, and I am here to carry out President Trump’s intent.”

Like Hamilton, Richardson appears to have no prior experience managing natural disasters. As he takes the helm, he will continue to serve in his other role in the Countering Weapons of Mass Destruction Office at DHS, according to multiple sources briefed on the decision.

CNN previously reported on FEMA’s ongoing hurricane preparation problems, but the recently obtained memo is the most significant internal assessment that Americans may see a reduced disaster response from FEMA this year.

Most hurricane preparations have “been derailed this year due to other activities like staffing and contracts,” the document states.

FEMA’s operations have been siloed in recent months, with limited coordination taking place across agencies. Trainings also have been paused, and critical exercises and collaborations with state partners have not happened. At the same time, agency morale has plummeted since Trump took office, more than a dozen FEMA officials told CNN, as staff endure public attacks from administration officials, lie detector tests to root out media leaks and threats of more steep job cuts.

“If an organization hears it should be eliminated or abolished, the resources and cooperation are not there,” the internal review states. “(The) intent cannot be wind down and be ready to support (the) nation in a major response.”

Following publication of this story, DHS responded to CNN’s request for comment, saying the story “is grossly out of context.”

“The slide was used during a daily meeting Acting Administrator David Richardson has held every day titled Hurricane Readiness Complex Problem Solving. In other words, exactly what the head of an emergency management agency should be doing before Hurricane Season,” a DHS spokesperson said in the statement, referring to the meeting where the internal assessment was presented.

The spokesperson’s statement also says, “FEMA is fully activated in preparation for Hurricane Season.”

Growing turmoil at the agency

The disaster relief agency, which employs more than 20,000 workers, has lost roughly 30% of its full-time staff to layoffs and DOGE buyouts, including some if its most experienced and knowledgeable senior leadership, sources told CNN. On top of that, the thousands of FEMA staffers that serve in public-facing roles during disaster response, many of whom work on 2- to 4-year contracts, must now be individually approved for extension by Noem’s office.

“What Americans will see is a federal government that is either absent completely or, if present, sputtering to deliver response and recovery resources,” an operational leader at FEMA told CNN.

The leadership brain drain and staffing cuts could stretch resources and personnel as they deploy to disasters, which often overlap. And growing turmoil at the agency has left officials uncertain about FEMA’s mission and goals once hurricane season gets underway.

“I can’t think of a more adverse way to be heading into hurricane season. We’re all on edge and not seeing hope,” a longtime FEMA official who works directly on disaster response told CNN. “We’re going in with no confidence that when decisions have to be made in limited time that impact saving lives, that those decisions will have support.”

In a recent interview with a conservative radio channel, Richardson stressed that the agency will be well-prepared for hurricane season as it completes its “complex problem-solving session,” adding that there is no uncertainty at FEMA about the agency’s mission.

“We’re already putting together teams that are going down range to do some evaluation on what readiness has been done at the state level,” Richardson said. “So, we will be ready, we will meet the president’s intent, and we will make sure that the American people are safe. We may do it a little differently. We will be criticized for it. But we will do it very, very effectively.”

Meanwhile, Trump officials are discussing drastically raising the threshold for states to qualify for federal disaster assistance, which would make good on the president’s promise to shift more responsibility for disaster response and recovery onto the states. But thus far, the administration has not issued a final decision on these discussed changes. At a hearing on Capitol Hill Wednesday, Noem told lawmakers “there is no formalized, final plan” for how the administration will handle disasters.

But administration officials have made it clear they plan to further overhaul FEMA’s mission and shrink its operations. “(The) intent is to reduce the footprint of FEMA. Do it in the logical way, controlled burn, to ensure states have burden and FEMA (is) not taken advantage of,” the document obtained by CNN says.

President Trump has created a FEMA review council that is expected to submit recommendations to reform the agency. But concern is growing among federal and state emergency managers that dramatic short-term changes could create dire consequences for communities ill-equipped to handle disasters without federal support.

States like California, Texas and Florida could likely shoulder the shifting expectations given their hefty state budgets and robust emergency management infrastructure, the document says. But smaller states, FEMA acknowledges, would likely struggle.

Still, the agency’s expectation is that states and the public will face more responsibility for buying insurance and building in less risky areas and to higher infrastructure standards.

DHS’s control over FEMA

With Noem at the helm, DHS has exerted extraordinary control over FEMA since Trump took office.

Noem recently took the unusual step of temporarily blocking all FEMA payments to her home state of South Dakota, including funds to help communities recover from severe storms and flooding, according to multiple sources and internal communications obtained by CNN.

In early April, a DHS official reached out to FEMA, telling agency staff they had “received direction to pause payments on any grants to recipients in the State of South Dakota (SD) pending a review by the Secretary,” according to an email obtained by CNN.

FEMA staff received no explanation for the pause, sources said, adding that such a directive – singling out a state for a broad payment pause – was unheard of at the disaster relief agency. The fact Noem was withholding money to her home state only further baffled them.

“I don’t ever recall an instance where the secretary’s office paused or asked for reviews regarding a particular state,” former FEMA Chief of Staff Michael Coen, who served under the Biden and Obama administrations, told CNN. “It’s alarming. People in appointed positions shouldn’t be using their influence to affect resources that are provided by the taxpayers.”

In an email to CNN, a DHS spokesperson denied the department directed FEMA to pause payments to South Dakota.

“That’s not accurate,” the spokesperson wrote. “The Secretary reviews every grant based on need — not discrimination based on state.”

Nearly three weeks after the initial pause, DHS suddenly reversed the directive. Within days, the Department of Homeland Security issued a press release announcing the distribution of $5.3 million to South Dakota to support disaster relief, antiterrorism efforts and other security needs.

“I am pleased to announce that the people of South Dakota will be getting the support they need to rebuild from disasters and protect themselves from human threats like terrorism,” Noem said in the statement. “This is what the federal government should be doing: supporting states while they take the lead in providing for their own security.”

The pause is just the latest incident to confound some at FEMA who believe Trump administration officials are playing politics with critical funding and interfering with emergency management at a level they’ve never seen before. CNN previously reported similar concerns after the administration directed the agency to prioritize certain payments to GOP-led Missouri and Virginia.

Ousting Trump’s first FEMA administrator

During his time at FEMA, Hamilton, whom Trump appointed to oversee the agency when he first took office, clashed with Corey Lewandowski, the long-time Trump ally who is currently working with DHS and Noem as a special government employee, multiple sources with knowledge of their relationship told CNN. Despite Trump and Noem’s repeated calls to dismantle FEMA, Hamilton increasingly believed that preserving FEMA was in the best interest of the American people, even if the agency needed to be significantly reformed.

Ultimately, Lewandowski drove the decision to fire Hamilton and replace him with Richardson, a longtime acquaintance, according to multiple sources with knowledge of the situation. In 2019, Lewandowski wrote a review for Richardon’s book, saying it “will make liberals cringe!”

CNN reached out to Richardson and Lewandowski for this story.

Hamilton received an unceremonious exit from FEMA. Last Wednesday, just hours before he was scheduled to testify on Capitol Hill, he was mistakenly tipped off to his impending termination, after DHS notified FEMA security that his access would soon be shut off, according to multiple sources. DHS then informed FEMA leadership that an error had been made, the sources said, though he was ultimately fired the next day.

White House Press Secretary Karoline Leavitt later blamed Hamilton’s testimony for his firing, saying, “This individual testified saying something that was contrary to what the president believes and the goals of this administration in regards to FEMA policy.” Multiple sources say the decision to fire Hamilton was actually weeks in the making.

Richardson offered his own take on Hamilton’s termination during his interview with a conservative radio channel, saying, “Where, maybe, Cam got sideways was when he expressed a personal opinion. And I don’t have any personal opinion about it. In my personal opinion, I am here to execute President Trump’s agenda.”

For full report, please click the source link above.

House Passes Bill to Establish Home Loan Safety Net Program at VA

Posted on May 21, 2025 by Safeguard

Industry Update
May 19, 2025

Source: House Committee on Veterans’ Affairs

The House Committee on Veterans’ Affairs Chairman Mike Bost (R-Ill.) and Subcommittee on Economic Opportunity Chairman Rep. Derrick Van Orden (R-Wis.), released the following statements after the House passed H.R. 1815, the VA Home Loan Program Reform Act, which would create a partial claim program at the Department of Veterans Affairs (VA) as part of the VA Home Loan program to allow veterans who have fallen behind on their mortgages to receive federal assistance. H.R. 1815 also includes the proper funding levels for the VA Grant and Per Diem program, as part of VA’s homeless programs to fund community agencies providing services to veterans experiencing homelessness.

“The Biden administration was dead wrong to risk the future of VA’s Home Loan program by creating the VASP program, and the Trump administration was right to put an end to it. I am proud to have worked alongside my friend, Economic Opportunity Chairman Van Orden, our House Republican colleagues, and key stakeholders to create the right safety net for veterans who have fallen behind on their mortgage payments,” said Chairman Bost. “Our bill is a fiscally responsible solution to ensure that veterans in financial hardship have access to the tools they need to stay in their homes. I look forward to seeing this commonsense, bipartisan bill passed in the Senate and signed into law by President Trump as soon as possible.”

“This program has worked in the past, keeps vets and their families in their homes, and does so at a fraction of the cost of the horrific VASP program,” said Economic Opportunity Chairman Van Orden. “The VA Home Loan Program Reform Act is not just a fix – it is necessary course correction. I thank Chairman Bost for his support on this legislation and helping it get over the finish line for our vets.”

“MBA has been a fierce advocate for distressed veteran homeowners, working with a bipartisan group of lawmakers, Veterans Affairs (VA) staff, and our members to help keep them in their homes since the VA’s previous loss mitigation solution was terminated during the pandemic without a replacement. The need for a permanent partial claim option is urgent. We applaud the passage of this important bill, which gives the VA permanent authority to create a partial claims program that aligns with the loss mitigation options offered to borrowers across other federal housing agencies. We will continue to work with a bipartisan group of senators to get similar legislation passed as soon as possible. Thousands of struggling veteran homeowners risk foreclosure without this swift legislative action and subsequent implementation of a VA partial claim program,” said Bob Broeksmit, CMB, President and CEO, Mortgage Bankers Association.

“We commend the House of Representatives’ efforts to empower the VA with the ability to offer a standalone partial claim. Those who have served our country deserve access to the same protections available to other homeowners, and the passage of the VA Home Loan Program Reform Act of 2025 out of the House is a critical step toward that goal. This legislation will enable the VA to develop a strong, sustainable solution that provides mortgage servicers with the tools they need to support Veterans in today’s higher-rate environment,” said Rocket Mortgage.

“NCHV applauds the House of Representatives for its bipartisan commitment to swiftly ensuring that VA has the tools it needs to support veterans in a housing crisis and veterans facing homelessness. This work is a continuation of the commitments Congress made to veterans in The Elizabeth Dole Act. We encourage the Senate to pass this legislation quickly, to minimize the harm that inaction will inevitably bring to veterans in a housing crisis. We also urge the Appropriations Committee to ensure VA is provided sufficient funding to fully implement these provisions,” said Kathryn Monet, CEO, National Coalition for Homeless Veterans (NCHV).

“Mission Roll Call applauds the House of Representatives for advancing the amended version of H.R. 1815 with bipartisan support. This critical legislation ensures the Department of Veterans Affairs has the flexibility it needs to assist veterans at risk of mortgage default—without compromising its core mission or creating unsustainable programs. We urge the Senate to act swiftly to pass this bill and protect the stability and dignity of the veterans who have sacrificed so much for our country,” said Jim Whaley, CEO, Mission Roll Call.

For full report, please click the source link above.

FEMA Fire Management Assistance Declaration – Minnesota Munger Shaw Fire

Posted on May 20, 2025 by Safeguard

FEMA Alert
May 14, 2025

FEMA has issued a Fire Management Assistance Declaration for the state of Minnesota to supplement state, tribal and local recovery efforts in areas affected by the Munger Shaw Fire on May 12, 2025. The following counties have been approved for assistance:

Public Assistance:

St. Louis

Minnesota Munger Shaw Fire (FM-5583-MN)

List of Affected Zip Codes

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

FEMA Fire Management Assistance Declaration – Arizona Greer Fire

Posted on May 20, 2025 by Safeguard

FEMA Alert
May 14, 2025

FEMA has issued a Fire Management Assistance Declaration for the state of Arizona to supplement state, tribal and local recovery efforts in areas affected by the Greer Fire on May 14, 2025. The following counties have been approved for assistance:

Public Assistance:

Apache

Arizona Greer Fire (FM-5584-AZ)

List of Affected Zip Codes

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

U.S. Foreclosure Activity Increases Annually in April 2025

Posted on May 15, 2025 by Safeguard

Industry Update
May 14, 2025

Source: ATTOM

ATTOM, a leading curator of land, property data, and real estate analytics, today released its April 2025 U.S. Foreclosure Market Report, which shows there were a total of 36,033 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions – up 0.4 percent from the prior month and up 13.9 percent from a year ago.

“April’s foreclosure activity continued its gradual climb, with both starts and completions up annually,” said Rob Barber, CEO at ATTOM. “While volumes remain below historical norms, the year-over-year increases may suggest that some homeowners are beginning to feel the effects of persistent economic pressures.”

Foreclosure completion numbers increase annually

Lenders repossessed 3,580 U.S. properties through completed foreclosures (REOs) in April 2025, down 2.9 percent from last month but up 23.3 percent from a year ago – marking the second month of REO numbers increasing annually.

Counter to the National trend states that had at least 50 or more REOs and that saw the greatest annual decline in April 2025 included: South Carolina (down 45.9 percent); Maryland (down 42.5 percent); Ohio (down 22.4 percent); New York (down 17.3 percent); and New Jersey (down 11.5 percent).

Among the 225 metropolitan statistical areas with a population of at least 200,000, that saw the greatest number of REOs included: Chicago, IL (220 REOs); Atlanta, GA (213 REOs); New York, NY (143 REOs); Houston, TX (114 REOs); and Philadelphia, PA (86 REOs).

Highest foreclosure rates in South Carolina, Illinois, and Florida

Nationwide one in every 3,950 housing units had a foreclosure filing in April 2025. States with the worst foreclosure rates were South Carolina (one in every 2,311 housing units with a foreclosure filing); Illinois (one in every 2,405 housing units); Florida (one in every 2,526 housing units); Delaware (one in every 2,617 housing units); and Nevada (one in every 2,944 housing units).

Those major metropolitan statistical areas (MSAs) with a population greater than 200,000, with the worst foreclosure rates in April 2025 were Warner Robins, GA (one in every 1,512 housing units with a foreclosure filing); Killeen-Temple, TX (one in every 1,590 housing units); Chico, CA (one in every 1,720 housing units); Ocala, FL (one in every 1,731 housing units); and Palm Bay-Melbourne-Titusville, FL (one in every 1,753 housing units).

Among the metropolitan areas with a population greater than 1 million, those with the worst foreclosure rates in April 2025 included: Cleveland, OH (one in every 1,964 housing units); Chicago, IL (one in every 2,076 housing units), Riverside, CA (one in every 2,106 housing units), Houston, TX (one in every 2,147 housing units) and San Antonio, TX (one in every 2,326 housing units).

For full report, please click the source link above.

Mortgage Delinquencies Increase Slightly in the First Quarter of 2025

Posted on May 15, 2025May 15, 2025 by Safeguard

Industry Update
May 13, 2025

Source: Mortgage Bankers Association

The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 4.04 percent of all loans outstanding at the end of the first quarter of 2025, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.

The delinquency rate was up 6 basis points from the fourth quarter of 2024 and up 10 basis points from one year ago. The percentage of loans on which foreclosure actions were started in the first quarter rose by 5 basis points to 0.20 percent.

“There were mixed results for mortgage performance in the first quarter of 2025 compared to the end of 2024. Delinquencies on conventional loans increased slightly, while mortgage delinquencies on FHA and VA loans declined,” said Marina Walsh, CMB, MBA’s Vice President of Industry Analysis. “Foreclosure inventories increased across all three loan types, and particularly for VA loans. Despite certain segments of borrowers having difficulty making their mortgage payments, the overall national delinquency and foreclosure rates remain below historical averages for now.”

Added Walsh, “The percentage of VA loans in the foreclosure process rose to 0.84 percent, the highest level since the fourth quarter of 2019. The increase from the previous quarter marks the largest quarterly change recorded for the VA foreclosure inventory rate since the inception of MBA’s survey in 1979.”

Walsh noted that a voluntary VA foreclosure moratorium was in effect through the end of 2024 to allow time to implement the Veterans Affairs Servicing Purchase (VASP) Program. That program has since ended without a replacement loss mitigation option approved by Congress. Further increases in the foreclosure rate could result if economic conditions worsen and loan workout options are unavailable.

Key findings of MBA’s First Quarter of 2025 National Delinquency Survey:

Compared to last quarter, the seasonally adjusted mortgage delinquency rate increased for all loans outstanding. By stage, the 30-day delinquency rate increased 11 basis points to 2.14 percent, the 60-day delinquency rate decreased 3 basis points to 0.73 percent, and the 90-day delinquency bucket decreased 2 basis points to 1.17 percent.

By loan type, the total seasonally adjusted delinquency rate for conventional loans increased 8 basis points to 2.70 percent over the previous quarter. The total FHA seasonally adjusted delinquency rate decreased 41 basis points to 10.62 percent, and the total VA seasonally adjusted delinquency rate decreased 7 basis points to 4.63 percent.

On a year-over-year basis, total mortgage delinquencies increased for all loans outstanding. The delinquency rate increased 8 basis points for conventional loans, increased 23 basis points for FHA loans and decreased 3 basis points for VA loans from the previous year.

The delinquency rate includes loans that are at least one payment past due but does not include loans in the process of foreclosure. The percentage of loans in the foreclosure process at the end of the first quarter was 0.49 percent, up 4 basis points from the fourth quarter of 2024 and 3 basis points higher than one year ago.

The non-seasonally adjusted seriously delinquent rate, the percentage of loans that are 90 days or more past due or in the process of foreclosure, was 1.63 percent. It decreased 5 basis points from last quarter and increased 19 basis points from last year. The seriously delinquent rate decreased 3 basis points for conventional loans, decreased 14 basis points for FHA loans, and decreased 7 basis points for VA loans from the previous quarter. Compared to a year ago, the seriously delinquent rate increased 5 basis points for conventional loans, increased 80 basis points for FHA loans and increased 50 basis points for VA loans.

The five states with the largest year over year increases in their overall delinquency rate were: Florida (46 basis points), South Carolina (26 basis points), Georgia (25 basis points), Delaware (25 basis points), and Wyoming (24 basis points).

For the purposes of the survey, MBA asks servicers to report loans in forbearance as delinquent if the payment was not made based on the original terms of the mortgage.

For full report, please click the source link above.

FEMA Major Disaster Declaration – Arkansas Severe Storms and Tornadoes

Posted on May 14, 2025May 15, 2025 by Safeguard

FEMA Alert
May 8, 2025

FEMA has issued a Major Disaster Declaration for the state of Arkansas to supplement state, tribal, and local recovery efforts in areas affected by severe storms and tornadoes from March 14-15, 2025. The following counties have been approved for assistance:

Individual Assistance:

Greene
Hot Spring
Independence
Izard
Jackson
Lawrence
Randolph
Sharp
Stone

Arkansas Severe Storms and Tornadoes (DR-4865-AR)

Map of Affected Area

President Donald J. Trump Approves Major Disaster Declaration for Arkansas

List of Affected Zip Codes

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

STL County Land Bank Targets Abandoned Properties

Posted on May 9, 2025 by Safeguard

One Community Update
May 2, 2025

Source: www.stlamerican.com

A new land bank will be an investment in St. Louis County’s future according to County Executive Sam Page.

Sponsored by Council Chair Rita Days and Councilwoman Shalonda Webb, Page signed Bill No. 57 on Monday, formally establishing the Saint Louis County Land Bank. The inaugural county agency of this type has a goal of restoring vacant and tax-delinquent properties to productive use.

“The Saint Louis County Land Bank restores hope and opportunity for our communities,” said Dr. Page in a release.

“Vacant lots and abandoned buildings hurt everyone. This land bank will help us turn eyesores into assets – creating safe, affordable housing, vibrant green spaces, and stronger neighborhoods for generations to come.”

According to the County, it is home to thousands of vacant, abandoned, and tax-delinquent properties, with many long trapped in “legal limbo.” Many of the properties are in north St. Louis County.

“The new land bank offers a powerful, targeted tool to reclaim, restore, and redevelop these properties, strengthening neighborhoods and supporting sustainable growth,” according to Page.

Tony L. Smee, Department of Revenue director, and his office will identify properties eligible for acquisition and provide a list to the land bank board.

Properties will then be “strategically” selected and offered clean titles through court-supervised sales.

The initiative is bolstered by a $1 million investment in Rams settlement funding and sustained by three revenue streams. This, according to the county, [will give] buyers legal certainty and confidence.”

A land back board will be appointed by the County Executive, County Council, and the Municipal League of Metro St. Louis. House Bill 2062, which was passed during the 2024 state legislative session, expanded local authority to create land banks.

St. Louis County is the first jurisdiction in the state to enact a land bank agency under the new statute.

A group of diverse partners, the St. Louis County Land Bank Coalition, worked for passage of the bill last year.

The partners included former state Rep. Kevin Windham, Legal Services of Eastern Missouri, the Municipal League of Metro St. Louis, Beyond Housing, the St. Louis Economic Development Partnership, The Housing Partnership, Spanish Lake Community Development Corporation, The Center for Community Progress, and others.

“I’ve watched homes in our community sit empty for years—windows shattered, roofs caved in, and hope slipping through the cracks,” said Windham, who originally elected from the state’s 85th House district.

After redistricting in 2022, he was elected from the 74th district, which includes 22 municipalities and portions of unincorporated St. Louis County. Among the communities are Cool Valley, Wellston, Vinita Park and Pasadena Hills.

“The unanimous council vote is more than just policy, it’s a promise to neighborhoods like mine that we haven’t been forgotten. This land bank ordinance is a step toward restoration, toward dignity, and toward the future our communities deserve.”

St. Louis Realtors President Stacey Sanders said, called the bill and its signing, “a historic moment for St. Louis County.

“The creation of this land bank adds a critical tool to transform blighted areas into opportunity. Helping to reclaim properties, stabilize neighborhoods, and open the door to new investment. We are proud to have fueled this effort from the beginning,” she said.

According to the County, the inaugural Land Bank is unique because it can deliver:

Selectivity – “The County chooses which properties to take—not everything by default.”

Clean titles – “Court-supervised sales mean no legal surprises for future buyers.”

Funding – It’s built to last, with three revenue streams plus an initial $1 million investment.

The banks will also help create safer neighborhoods by reducing blight and vacancy, create opportunities for new homeowners, local developers, and nonprofits, and create a fair and transparent system designed with input from the public.

“Together, we worked tirelessly to ensure that local leaders have the tools they needed to revitalize blighted properties and build a stronger future for all residents of St. Louis County,” said Sanders of the Coalition.

For full report, please click the source link above.

Newark Land Bank Breaks Ground on New Single-Family Residence

Posted on May 9, 2025 by Safeguard

One Community Update
May 6, 2025

Source: www.tapinto.net

Newark Land Bank, a division of Invest Newark that is focused on boosting homeownership, broke ground on its first ground-up residential construction project at 113 Ridgewood Ave. on Monday morning.

Breaking ground on this home marks the beginning of a larger effort to construct seven new single-family homes across Newark by 2026, a move to expand homeownership opportunities for city families.

Local developer Three Brothers Construction will construct a three-story, single-family residence at the Ridgewood Avenue site, which will feature four bedrooms, 3.5 baths and a private garage.

“This is a turning point for our city in its continual, consistent commitment to create affordable housing for our community. Our goal is enormous but, as we witness today, it will be met – one space, one family, one contractor at a time,” said Newark Mayor Ras J. Baraka. “In a few months, someone will receive the key to their new home here – but the real key to this dream is our collaboration with partners and the vision we share.”

The Newark Land Bank was established in 2019 and is operated by Invest Newark. The first land bank in New Jersey, it acquires, manages and redevelops vacant, abandoned and tax-delinquent properties across Newark.

The Newark Land Bank’s mission is to reduce blight, expand homeownership and support sustainable development.

To date, the Newark Land Bank has sold 76 properties throughout the city’s five wards, including eight through the Housing Choice Voucher Conversion Program.

In addition to 113 Ridgewood Ave., Newark Land Bank plans to break ground on new homes at the following locations: 29-31 Winans Ave., 296 S. 7th St., 298 S. 7th St., 63 Montgomery Ave., 299 Chadwick Ave. and 59 Millington Avenue.

The target market for these homes is income-qualified, first-time homebuyers.

The new home at 113 Ridgewood Ave. is designated for buyers earning 80% of the Area Median Income (AMI) or below.

The Newark Metro Area Housing and Urban Development (HUD) annual income limits in 2024 show that 80% AMI is $73,040 for a one-person household, $83,440 for a two-person household and $93,840 for a three-person household.

Properties will be listed for sale on the Newark Land Bank website once construction is complete. The homes are then sold through a lottery-based application process to ensure fair access.

Invest Newark selected Newark-based contractor Three Brothers Construction, a family-run, minority-owned firm, to construct the single-family residence on Ridgewood Avenue.

Marcus Randolph, president and CEO of Invest Newark, and Gregory Good, chief real estate development officer and director of asset management at Invest Newark, joined Three Brothers Construction owner Gilbert Gomez on Monday to mark the start of construction.

“Transforming a vacant lot into a beautiful home for a family is a powerful example of how we turn vision into action,” Randolph said.

Good added that Three Brothers Construction represents “everything we want to see more of in Newark.”

“This project isn’t just an opportunity for our company, it is a win for the whole community,” Gomez said. “We’re proud to help build something that will make a real difference for Newark families. We believe in this city and what we can achieve together as a community.”

For full report, please click the source link above.