Safeguard Properties

U.S. Foreclosure Rates by State – December 2025

Posted on by Safeguard

Industry Update
January 16, 2025

Source: ATTOM

What Is the Current Foreclosure Rate in the U.S.?

In December 2025, U.S. foreclosure activity increased from the prior month and continued to trend higher than a year earlier.

Total filings: 44,990 properties with default notices, scheduled auctions, or bank repossessions

Monthly change: Up 26 percent from November 2025

Year-over-year change: Up 57 percent from December 2024

National rate: One in every 3,163 housing units had a foreclosure filing

States with the worst foreclosure rates: New Jersey, South Carolina, Maryland, Delaware, and Florida

Foreclosure Starts and Completions

Starts: Lenders initiated foreclosure proceedings on 28,269 U.S. properties during December 2025, a 19 percent increase from November and 46 percent above the level seen one year ago.

Completions (REOs): Lenders repossessed 5,953 properties, up 53 percent from the previous month and up 101 percent from a year ago.

What’s Driving December 2025 Foreclosure Trends?

Foreclosure activity accelerated in December 2025, with year-over-year increases in nearly every state, reflecting a broad-based rise in filings rather than pressure concentrated in a single market. States with the highest foreclosure rates for the month included New Jersey, South Carolina, Maryland, Delaware, and Florida, pointing to elevated foreclosure activity across parts of the Mid-Atlantic and Southeast.

Foreclosure Rates by State – December 2025

Below is the complete state-by-state foreclosure ranking for December 2025 and the top 4 counties with the worst foreclosure rates per state.

  1. New Jersey

1 in every 1,734 housing units (2,178 filings / 3,775,842 units)

Counties: Salem, Camden, Cumberland, Gloucester

  1. South Carolina

1 in every 1,917 housing units (1,253 filings / 2,401,638 units)

Counties: Dorchester, Kershaw, Florence, Berkeley

  1. Maryland

1 in every 1,961 housing units (1,298 filings / 2,545,532 units)

Counties: Baltimore City, Dorchester, Charles, Somerset

  1. Delaware

1 in every 2,044 housing units (224 filings / 457,958 units)

Counties: Kent, New Castle, Sussex

  1. Florida

1 in every 2,119 housing units (4,757 filings / 10,082,356 units)

Counties: Taylor, Charlotte, Osceola, Citrus

  1. Illinois

1 in every 2,245 housing units (2,425 filings / 5,443,501 units)

Counties: Dewitt, Edgar, Saint Clair, Clay

  1. Utah

1 in every 2,381 housing units (501 filings / 1,193,082 units)

Counties: Iron, Tooele, Wayne, Weber

  1. Nevada

1 in every 2,386 housing units (548 filings / 1,307,338 units)

Counties: Clark, Lyon, Nye, Humboldt

  1. Texas

1 in every 2,451 housing units (4,852 filings / 11,890,808 units)

Counties: Liberty, Borden, Kaufman, Caldwell

  1. Indiana

1 in every 2,544 housing units (1,161 filings / 2,953,344 units)

Counties: Sullivan, Daviess, Noble, Madison

  1. Ohio

1 in every 2,736 housing units (1,927 filings / 5,271,573 units)

Counties: Cuyahoga, Stark, Crawford, Marion

  1. Alabama

1 in every 2,825 housing units (820 filings / 2,316,192 units)

Counties: Hale, Lowndes, Bibb, Jefferson

  1. Georgia

1 in every 2,834 housing units (1,582 filings / 4,483,873 units)

Counties: Butts, Peach, Mcduffie, Jefferson

  1. Louisiana

1 in every 2,966 housing units (706 filings / 2,094,002 units)

Counties: Tangipahoa, Livingston, Ascension, Webster

  1. Colorado

1 in every 3,085 housing units (825 filings / 2,545,124 units)

Counties: Pueblo, Alamosa, Cheyenne, Sedgwick

  1. Iowa

1 in every 3,109 housing units (459 filings / 1,427,175 units)

Counties: Jones, Tama, Muscatine, Howard

  1. Oklahoma

1 in every 3,211 housing units (549 filings / 1,763,036 units)

Counties: Noble, Caddo, Woodward, Tulsa

  1. Michigan

1 in every 3,251 housing units (1,415 filings / 4,599,683 units)

Counties: Sanilac, Tuscola, Jackson, Muskegon

  1. Pennsylvania

1 in every 3,335 housing units (1,733 filings / 5,779,663 units)

Counties: Delaware, Philadelphia, Berks, Lancaster

  1. New York

1 in every 3,423 housing units (2,495 filings / 8,539,536 units)

Counties: Rockland, Washington, Richmond, Broome

  1. California

1 in every 3,499 housing units (4,153 filings / 14,532,683 units)

Counties: Shasta, El Dorado, Kern, San Bernardino

  1. Maine

1 in every 3,809 housing units (196 filings / 746,552 units)

Counties: Washington, Somerset, Penobscot, Waldo

  1. Arkansas

1 in every 3,873 housing units (357 filings / 1,382,664 units)

Counties: Grant, Prairie, Randolph, Clark

  1. Wyoming

1 in every 3,875 housing units (71 filings / 275,131 units)

Counties: Niobrara, Goshen, Converse, Natrona

  1. Arizona

1 in every 4,050 housing units (776 filings / 3,142,443 units)

Counties: Pinal, Santa Cruz, Cochise, Yuma

  1. Connecticut

1 in every 4,118 housing units (373 filings / 1,536,049 units)

Counties: Northeastern Connecticut, Greater Bridgeport, South Central Connecticut, Naugatuck Valley

  1. Idaho

1 in every 4,131 housing units (188 filings / 776,683 units)

Counties: Franklin, Elmore, Payette, Ada

  1. Virginia

1 in every 4,215 housing units (867 filings / 3,654,784 units)

Counties: Emporia City, Petersburg City, Franklin City, Colonial Heights City

  1. New Mexico

1 in every 4,336 housing units (219 filings / 949,524 units)

Counties: Union, Eddy, Torrance, Valencia

  1. North Carolina

1 in every 4,381 housing units (1,099 filings / 4,815,195 units)

Counties: Anson, Lee, Gates, Mcdowell

  1. Massachusetts

1 in every 4,388 housing units (687 filings / 3,014,657 units)

Counties: Hampden, Bristol, Plymouth, Worcester

  1. Tennessee

1 in every 4,572 housing units (677 filings / 3,095,472 units)

Counties: Hardeman, Moore, Hancock, Houston

  1. Minnesota

1 in every 4,666 housing units (540 filings / 2,519,538 units)

Counties: Martin, Dodge, Benton, Isanti

  1. Missouri

1 in every 4,955 housing units (567 filings / 2,809,501 units)

Counties: Scotland, Butler, Mississippi, Dunklin

  1. Washington

1 in every 5,549 housing units (588 filings / 3,262,667 units)

Counties: Pacific, Okanogan, Lewis, Grays Harbor

  1. Oregon

1 in every 6,212 housing units (296 filings / 1,838,631 units)

Counties: Gilliam, Columbia, Lake, Crook

  1. Mississippi

1 in every 6,470 housing units (206 filings / 1,332,811 units)

Counties: Franklin, Clay, Webster, Attala

  1. Nebraska

1 in every 6,685 housing units (128 filings / 855,631 units)

Counties: Clay, Morrill, York, Franklin

  1. Kentucky

1 in every 6,725 housing units (299 filings / 2,010,655 units)

Counties: Owen, Bell, Union, Barren

  1. Hawaii

1 in every 6,725 housing units (84 filings / 564,905 units)

Counties: Honolulu, Hawaii, Kauai, Maui

  1. Alaska

1 in every 6,933 housing units (46 filings / 318,927 units)

Counties: Sitka, North Slope, Ketchikan Gateway, Nome

  1. Rhode Island

1 in every 7,456 housing units (65 filings / 484,615 units)

Counties: Bristol, Kent, Newport, Providence

  1. New Hampshire

1 in every 7,857 housing units (82 filings / 644,253 units)

Counties: Sullivan, Merrimack, Hillsborough, Coos

  1. West Virginia

1 in every 9,049 housing units (95 filings / 859,653 units)

Counties: Marion, Wetzel, Raleigh, Wayne

  1. Kansas

1 in every 9,663 housing units (133 filings / 1,285,221 units)

Counties: Pawnee, Morton, Geary, Anderson

  1. Wisconsin

1 in every 10,621 housing units (259 filings / 2,750,750 units)

Counties: Langlade, Juneau, Marinette, Racine

  1. North Dakota

1 in every 12,496 housing units (30 filings / 374,866 units)

Counties: Griggs, Mchenry, Pembina, Richland

  1. Montana

1 in every 15,381 housing units (34 filings / 522,939 units)

Counties: Sweet Grass, Daniels, Lincoln, Roosevelt

  1. Vermont

1 in every 25,929 housing units (13 filings / 337,072 units)

Counties: Rutland, Orange, Washington, Caledonia

  1. South Dakota

1 in every 28,493 housing units (14 filings / 398,903 units)

Counties: Yankton, Brown, Minnehaha, Pennington

Key Insights from December 2025 Foreclosure Market Report:

Foreclosure activity increased in 2025, reflecting a continued normalization of the housing market following several years of historically low levels. While foreclosure filings, starts, and repossessions all rose compared to 2024, activity remains well below pre-pandemic norms and far below levels seen during the last housing crisis. The December data suggests the recent uptick is being driven more by market recalibration than widespread homeowner distress, as strong equity positions and more disciplined lending practices continue to help limit broader risk.

 

For full report, please click the source link above.

 

U.S. Foreclosure Activity Increases in 2025

Posted on by Safeguard

Industry Update
January 15, 2025

Source: ATTOM

ATTOM, a leading curator of land, property data, and real estate analytics, today released its Year-End 2025 U.S. Foreclosure Market Report, which shows foreclosure filings— default notices, scheduled auctions and bank repossessions — were reported on 367,460 U.S. properties in 2025, up 14 percent from 2024 and up 3 percent from 2023 but down 25 percent from 2019, before pandemic-related disruptions altered housing market dynamics. Foreclosure filings in 2025 were also down 87 percent from a peak of nearly 2.9 million in 2010.

Those 367,460 properties with foreclosure filings in 2025 represented 0.26 percent of all U.S. housing units, up slightly from 0.23 percent in 2024 and down from 0.36 percent in 2019 and down from a peak of 2.23 percent in 2010.

“Foreclosure activity increased in 2025, reflecting a continued normalization of the housing market following several years of historically low levels,” said Rob Barber, CEO at ATTOM. “While filings, starts, and repossessions all rose compared to 2024, foreclosure activity remains well below pre-pandemic norms and a fraction of what we saw during the last housing crisis. The data suggests that today’s uptick is being driven more by market recalibration than widespread homeowner distress, with strong equity positions and more disciplined lending continuing to limit risk.”

ATTOM’s year-end foreclosure report provides a unique count of properties with a foreclosure filing during the year based on publicly recorded and published foreclosure filings collected in more than 3,000 counties nationwide, accounting for more than 99 percent of the U.S. population – also available for licensing or customized reporting. See full methodology below.

The report also includes new data for December 2025, showing there were 44,990 U.S. properties with foreclosure filings, up 26 percent from the previous month and up 57 percent from a year ago.

Foreclosure starts on the rise nationwide

Lenders started the foreclosure process on 289,441 U.S. properties in 2025, up 14 percent from 2024, up 213 percent from the pandemic-era low in 2021, but down 14 percent form 2019 and down 86 percent from a peak of 2,139,005 in 2009.

States that saw the greatest number of foreclosure starts in 2025 included Texas (37,215 foreclosure starts); Florida (34,336 foreclosure starts); California (29,777 foreclosure starts); Illinois (15,010 foreclosure starts); and New York (13,664 foreclosure starts).

Those metropolitan statistical areas with a population greater than 1 million that saw the greatest number of foreclosure starts in 2025 included New York, NY (14,189 foreclosure starts); Chicago, IL (13,312 foreclosure starts); Houston, TX (13,009 foreclosure starts); Miami, FL (8,936 foreclosure starts); and Los Angeles, CA (8,503 foreclosure starts).

Bank repossessions increase year over year

Lenders repossessed 46,439 properties through foreclosures (REO) in 2025, up 27 percent from 2024 but down 68 percent from 143,955 in 2019, the last full year before pandemic-related declines, and down 96 percent from a peak of 1,050,500 in 2010.

States that saw the greatest number of REOs in 2025 included Texas (5,147 REOs); California (4,030 REOs); Pennsylvania (2,975 REOs); Florida (2,869 REOs); and Illinois (2,768 REOs).

Those metropolitan statistical areas with a population greater than 1 million that saw the greatest number of REOs in 2025 included Chicago, IL (2,033 REOs); New York, NY (1,462 REOs); Houston, TX (1,381 REOs); Detroit, MI (1,105 REOs); and Philadelphia, PA (1,100 REOs).

Florida, Delaware, and South Carolina record the worst foreclosure rates in 2025

States with the worst foreclosure rates in 2025 were Florida (1 in every 230 housing units with a foreclosure filing); Delaware (1 in every 240 housing units); South Carolina (1 in every 242 housing units); Illinois (1 in every 248 housing units); and Nevada (1 in every 248 housing units).

Rounding out the top 10 states with the worst foreclosure rates in 2025, were New Jersey (1 in every 273 housing units); Indiana (1 in every 302 housing units); Ohio (1 in every 307 housing units); Texas (1 in every 319 housing units); and Maryland (1 in every 326 housing units).

Lakeland, Columbia, and Cleveland post the worst metro foreclosure rates in 2025

Among 225 metropolitan statistical areas with a population of at least 200,000, those with the worst foreclosure rates in 2025 were Lakeland, FL (1 in every 145 housing units with a foreclosure filing); Columbia, SC (1 in every 165 housing units); Cleveland, OH (1 in every 187 housing units); Cape Coral, FL (1 in every 189 housing units); and Atlantic City, NJ (1 in every 192 housing units).

Metro areas with a population greater than 1 million, including Cleveland that had the worst foreclosure rates in 2025 were: Jacksonville, FL (1 in every 200 housing units); Las Vegas, NV (1 in every 210 housing units); Chicago, IL (1 in every 214 housing units); and Orlando, FL (1 in every 217 housing units).

Average time to foreclose decreases

U.S. properties foreclosed in the fourth quarter of 2025 had been in the foreclosure process an average of 592 days, a 3 percent decrease from the previous quarter and a 22 percent decrease from a year ago.

States with the longest average time to foreclose in Q4 2025 were Louisiana (3,461 days); New York (1,998 days); Hawaii (1,760 days); Connecticut (1,600 days); and Kansas (1,594 days).

Q4 2025 Foreclosure Activity Key Takeaways

There was a total of 111,692 U.S. properties with foreclosure filings in Q4 2025, up 10 percent from the previous quarter and up 32 percent from a year ago.

Nationwide in Q4 2025, one in every 1,274 properties had a foreclosure filing.

States with the worst foreclosure rates in Q4 2025 were South Carolina (one in every 689 housing units with a foreclosure filing); Florida (one in every 730 housing units); Delaware (one in every 778 housing units); Illinois (one in every 875 housing units); and Nevada (one in every 881 housing units).

December 2025 Foreclosure Activity Key Takeaways

Nationwide in December 2025, one in every 3,163 properties had a foreclosure filing.

States with the worst foreclosure rates in December 2025 were New Jersey (one in every 1,734 housing units with a foreclosure filing); South Carolina (one in every 1,917 housing units); Maryland (one in every 1,961 housing units); Delaware (one in every 2,044 housing units); and Florida (one in every 2,119 housing units).

28,269 U.S. properties started the foreclosure process in December 2025, up 19 percent from the previous month and up 46 percent from a year ago.

Lenders completed the foreclosure process on 5,953 U.S. properties in December 2025, up 53 percent from the previous month and up 101 percent from a year ago.

Conclusion

ATTOM’s Year-End 2025 Foreclosure Market Report shows that U.S. foreclosure activity increased in 2025, with foreclosure filings, starts, and bank repossessions all rising compared to 2024, signaling a continued shift toward more normalized market conditions. Despite the annual increases, foreclosure activity remains significantly below pre-pandemic levels and far below peaks seen during the last housing crisis. December 2025 and Q4 2025 data also showed increased foreclosure activity on both a monthly and annual basis.

 

For full report, please click the source link above.

 

Baton Rouge City Leaders Look to Detroit for Blight Answers

Posted on by Safeguard

One Community Update
January 7, 2026

Source: www.wbrz.com

One of Mayor-President Sid Edwards’ focuses during his campaign for office was blight, similar to former Detroit mayor Mike Duggan, with Detroit’s success at tackling blight.

Edwards says there are some ideas he plans to bring to Baton Rouge.

In 2014, the Detroit Land Bank owned 47,000 abandoned homes. According to former Mayor Mike Duggan, one in every five houses in Detroit was vacant.

Fast forward to December 2025, and that number sits at a little over 900.

Duggan says the city was demolishing 25 houses per week, which would’ve taken 32 years to address. Through his blight removal effort, it was done in just 12 years.

“The idea that we sold more abandoned houses than we knocked down over the last five years,” Duggan said during his Blight Removal Final Report Press Conference.

So how did they do it?

Well, Duggan says they created a Blight Removal Task Force plan that aimed to increase the rate of demolitions for houses that could not be saved, sell houses that could be, and set high environmental standards for demolition all at once.

In 2014, the city of Detroit received 265 million dollars in federal funding for the demolition of land bank houses. With this funding, the city completed 18,701 demolitions in four years.

In 2020, voters approved a $250 million city bond proposal for demolishing and rehabilitating properties across the city, allowing the city to sell 10,037 abandoned homes and demolish over 8,000.

A program offered by the Detroit Land Bank Authority allows property owners to purchase lots adjacent to their homes for as little as 100 dollars.

“What Detroit did is for the neighbor, they said, listen, we’re going to take this structure down. We’ll give you the lot for free, would you take it? And the only deal is you got to maintain it and cut your grass, and they did that, and we want to look to that in Baton Rouge,” Mayor Sid Edwards said.

Mayor Edwards and members of his administration returned from a trip to Detroit on Tuesday. Edwards says he looks to bring some of Detroit’s practices to the city of Baton Rouge.

“In Detroit, that area of town has become the country, it’s just open lots, and then people are selling it on the dollar, you can go in and buy a lot for $17.50, that’s what they are doing for their citizens, and then they’re helping people build these homes,” he said.

In the last 12 years, the city of Detroit demolished 27,000 homes and sold 19,000 formerly abandoned homes for rehabilitation.

 

For full report, please click the source link above.

Genesee County Land Bank Celebrates 675 Demolitions in 2025

Posted on by Safeguard

One Community Update
December 30, 2025

Source: www.abc12.com

The Genesee County Land Bank celebrated another prolific year of demolishing abandoned and blighted buildings around the county this year.

Contractors working for the land bank removed 675 structures around Genesee County from Jan. 1 to Oct. 31, 2025. Demolitions this year included a blighted apartment complex on Clio Road in Flint.

The land bank received $57 million worth of American Rescue Plan Act and matching funds to demolish and clean up thousands of blighted properties across Genesee County with a focus on the city of Flint.

The land bank has funded 1,960 demolitions with that funding and removed 1,449 of those structures as of Oct. 31. Officials hope to finish the remaining 511 demolitions included in the project by the end of 2026.

Nearly 10,000 abandoned structures have been removed since the land bank started the $57 million demolition project.

In addition to demolitions, the land bank also celebrated the grand opening of a $1.9 million maintenance and mechanic facility for its property maintenance crews at the former James Lumber Yard in Flint this fall.

 

For full report, please click the source link above.

Ambitious Plan Aims to Bring 500 New Affordable Houses to KCK’s Northeast

Posted on by Safeguard

One Community Update
January 7, 2026

Source: The Kansas City Star

Kansas City, Kansas’ former Mayor Tyrone Garner said an ambitious project he worked on to bring hundreds of new homes to the city’s northeast side could boost the neighborhood and help erase the invisible dividing line between east and west Wyandotte County.

Officials this month launched the Quindaro Crossings project, which has been in the works for a few years and looks to build up to 500 new houses on vacant lots in areas off Quindaro Boulevard in phases into the early 2030s.

The developers aim to build about 15 new homes per quarter, and prices will start at around $215,000 per new construction home. According to Zillow, the average home value in KCK is about $194,000.

The $94 million project, driven by private funding, will replace hundreds of empty parcels owned by the Wyandotte County Land Bank with houses and duplexes and could bring over 1,000 new residents to KCK’s northeast. Officials said they hope an influx of new residents will also mean new commercial development in the area, including a much-needed grocery store.

The two project areas cover chunks of the city around, roughly, Quindaro Boulevard, Hutchings Street, Brown Avenue and 12th Street; and Quindaro Boulevard, Allis Street, Sherman Street and Manorcrest Drive.

Construction on the first few homes is starting right away in the Hiawatha Street area.

The developers, CJR Construction, plan to use hundreds of lots from the county’s Land Bank, making Quindaro Crossings seemingly the most robust of several efforts taking advantage of government-owned vacant lots to build more housing, especially single family homes, in Northeast KCK neighborhoods. “We’re going to build a micro community within the community that’s already here and revitalize with this rich history in Wyandotte,” Charles Robinson of CJR Construction said at a groundbreaking this month. IMR Homes joins CJR on the development.

The developers are planning on a variety of home designs with one or two stories that will include multiple bedrooms and bathrooms, a garage, living and dining rooms with modern kitchen fixtures.

Quindaro Crossings

The Unified Government is among the county’s largest landowners, with more than 4,300 vacant and abandoned lots in its land bank, the majority of which were once homes.

Properties often become part of the Land Bank through tax foreclosure, which is when the local government takes control of a property when the owner hasn’t paid taxes. If the government isn’t able to sell a property, it’s then absorbed into the land bank, and the government owns it. Such vacant lots can later be sold for development.

Much of Wyandotte’s land bank property is visibly concentrated in the county’s northeast corner, specifically in the area surrounding Quindaro Boulevard, where CJR aims to build.

Michael Sutton, a redevelopment coordinator, has attributed the vastness of the land bank, particularly in northeast Wyandotte, to 20th century redlining and southward and westward flight of the county’s white, wealthy and middle class families. The area experienced decades of economic disinvestment as a result.

For the past five years, the Unified Government has sought to encourage developers — local and large alike — to build on and revitalize its vacant properties at a discounted rate. In that time, developers have built about 150 homes on those lots, according to government staff.

CJR’s new project aims to build nearly 500 homes over the span of seven years.

“This is probably one of the largest slates of Land Bank applications that we have voted on, quite frankly, it might be, in history,” Eighth District Commission Andrew Davis said at a meeting in May.

According to information presented in May, officials will formally check on the project’s progress, including annual reports. The developers have to show work and officials can take action if the project is not coming together.

Affordable housing in KCK

The project so far is privately funded, but the developers could seek public incentives in the future, such as through the Kansas City Area Transit Authority’s START program, Robinson told The Star, which offers support to projects with a focus on transit.

He told county commissioners in April that the development team is using its own money for everything related to infill and the builds, but the KCATA incentive program could be useful to address public works concerns and sewer separation issues in a future phase of the project between 13th Street and 16th Street.

Robinson said the development will also take advantage of a state program that could give homeowners a dramatic rebate on the property taxes they’d owe on their new homes for 10 years, meaning their property taxes would be low for a period of time despite owning a new house.

The new homes will also have a lease-to-own option, and Robinson said the developers will work with neighborhood groups and local organizations to get the word out to potential buyers and help them navigate the process and improve their credit.

Wyandotte County Development

Gayle Townsend, former Wyandotte County commissioner for District 1, said at a groundbreaking that the project will bring much-needed housing to the area that will also be the catalyst for commercial development that people in the area desire.

Townsend said there are people who leave Wyandotte County, even though they have the ability to buy a new home, because the housing stock is not there. She said the Quindaro Crossings project will bring options.

Some neighborhood organizers expressed concerns at a committee hearing in April about neighborhood involvement in the project or the possibility that existing residents could see higher property taxes. At the meeting, Robinson committed to meeting and working with neighborhood associations.

The OCP and Oak Grove associations did not return a request for comment.

Garner, who has also finished out his term, said at the event that he laid out a vision with Robinson and the developers to do better by areas that have been disenfranchised and seen disinvestment for decades in Wyandotte County.

“You should not drive from east to west and see that much of a difference. And there’s that invisible line that I always called the invisible line of economic segregation that we need to tear down,” Garner said. “And so we have to face east, because these people live here. They love their community, just like everybody else. They deserve to have the investments, the goods, the services, the resources and the affordable housing stock that we know that could be available to them.”

Emphasizing other projects and developments around the area, Garner said things are moving.

“We’re going to turn this area around,” he said. “We’re going to take it from blight to bright and make it something that not just people in Kansas City, Kansas can be proud of. We’re going to make it something that the entire metro is going to stop and say, wow, look at what they did in Kansas City, Kansas.”

 

For full report, please click the source link above.

The US State with the Highest Rate of Underwater Mortgages

Posted on by Safeguard

Industry Update
January 12, 2025

Source: MoneyDigest

Following the 2008 housing crisis, which caused home prices to plummet across much of the country, many homeowners found themselves owing more on their mortgage than their home was worth. This is known as an underwater mortgage, and they became so common in the years that followed that they affected almost 25% of U.S. homes at one point. These days, the share of underwater mortgages is far lower — less than 2%, according to a November 2025 mortgage report published by Intercontinental Exchange (ICE). However, certain areas of the country are faring worse than others. Louisiana homeowners, in particular, have had a tough time recently, with the state posting the highest rate of underwater mortgages in the country.

As of Q3 2025, 11.2% of Louisiana mortgages were considered “seriously underwater,” meaning the mortgage balance was at least 25% higher than the value of the home. That’s an increase from 10.1% a year earlier, according to a report from real estate data and analytics firm ATTOM. The state was also home to 14 out of the 50 counties with the highest seriously underwater rates, with Calcasieu Parish topping the list at 17.1% of homes with mortgages. According to Hannah Jones, senior economic research analyst with Realtor.com, there are various factors behind the state’s high rate. “Softening home prices, easing buyer demand, and lower incomes all contribute to a higher concentration of underwater mortgages in the South compared to other regions,” she observed. Louisiana is already considered one of the worst states for retirement, but statistics like these could turn more potential residents off than ever.

Underwater mortgages’ impact on communities and homeowners

The frequency of underwater mortgages in Louisiana can have broader implications. “A high share of underwater mortgages raises concerns around reduced mobility, elevated risk of delinquency or default, and deferred maintenance,” Jones said, adding, “These pressures can cause local housing markets to stagnate, as households are unable to move or invest in their properties, further weighing on neighborhood conditions and property values.”

In addition, she said, “As prices and demand weaken, homeowners have a harder time selling and may find themselves struggling to keep up with mortgage payments.” The state is already experiencing the highest rate of non-current loans, at 7.9%, which includes foreclosures and delinquencies, according to another ICE report. Mississippi was next in line with a non-current rate of 7.8%, followed by Alabama at 5.8%.

For Louisiana homeowners who plan to remain in their homes, having an underwater mortgage may not be an issue. However, for those who need to sell, it can be a big problem. For example, if a home is listed for $275,000 — roughly the median list price in Louisiana as of October 2025 according to Realtor.com — and the mortgage is worth the same amount, the homeowner will still need to find a way to address the difference if the property sells for less. For those who are already house poor, that can wreak havoc on their finances.

Underwater mortgages can lead to short sales and foreclosures

Louisianans with underwater mortgages do have options if they need to sell their homes. If their mortgage is backed by Freddie Mac or Fannie Mae, they may be able to refinance the home through the agencies’ refinancing programs specifically designed for homeowners who don’t have enough equity in their homes to qualify for traditional refinancing options. Those who don’t qualify could consider a short sale, in which the lender agrees to sell for less than what’s owed. A Zillow search for short sales in Louisiana currently lists more than 50 homes as of January 2026, suggesting this is a viable option for some homeowners in the area. There are some downsides to a short sale, though: Going this route can damage your credit score, and it takes much of the decision-making power out of your hands as the lender will need to sign off on any offers before you can proceed with the final sale.

The last resort is for homeowners to stop paying the mortgage, which would ultimately lead to the home going into foreclosure. As of November 2025, Louisiana had the 16th highest foreclosure rate, with one out of every 3,885 households being foreclosed, according to ATTOM. That certainly paints a difficult financial picture for many Louisiana residents. And if the housing market wasn’t bad enough, the state is also experiencing one of the highest credit card delinquency rates in the country.

 

For full report, please click the source link above.

 

Commercial and Multifamily Mortgage Debt Outstanding Increased in Third-Quarter 2025

Posted on by Safeguard

Industry Update
January 13, 2025

Source: Mortgage Bankers Association

The level of commercial/multifamily mortgage debt outstanding increased by $53.4 billion (1.1 percent) in the third quarter of 2025, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report.

Total commercial/multifamily mortgage debt outstanding rose to $4.93 trillion at the end of the third quarter. Multifamily mortgage debt alone increased $40.3 billion (1.8 percent) to $2.24 trillion from the second quarter of 2025.

“Commercial and multifamily mortgage debt continued to grow during last year’s third quarter, driven by strong increases in multifamily lending,” said Reggie Booker, MBA’s Associate Vice President of Commercial Research. “While economic and market uncertainty persists, agency and GSE portfolios once again led the market, with banks and life insurance companies also posting solid gains. Total commercial real estate debt increased to $4.93 trillion in the third quarter, up 1.1 percent from the second quarter and up 4.0 percent from the third quarter of 2024. Multifamily debt grew to $2.24 trillion, up 1.8 percent from the second quarter and up 5.9 percent from the third quarter of 2024, and now accounts for 22.5 percent of total commercial debt.”

The four largest investor groups are: banks and thrifts; federal agency and government sponsored enterprise (GSE) portfolios and mortgage-backed securities (MBS); life insurance companies; and commercial mortgage-backed securities (CMBS), collateralized debt obligation (CDO) and other asset-backed securities (ABS) issues.

Commercial banks continue to hold the largest share (37 percent) of commercial/multifamily mortgages at $1.8 trillion. Agency and GSE portfolios and MBS are the second-largest holders of commercial/multifamily mortgages (23 percent) at $1.11 trillion. Life insurance companies hold $783 billion (16 percent), and CMBS, CDO and another other ABS issues hold $642 billion (13 percent). Many life insurance companies, banks and the GSEs purchase and hold CMBS, CDO and other ABS issues. These loans appear in the report in the “CMBS, CDO and other ABS” category.

MBA’s analysis summarizes the holdings of loans or, if the loans are securitized, the form of the security. For example, many life insurance companies invest both in whole loans for which they hold the mortgage note (and which appear in this data under Life Insurance Companies) and in CMBS, CDOs and other ABS for which the security issuers and trustees hold the note (and which appear here under CMBS, CDO and other ABS issues).

MULTIFAMILY MORTGAGE DEBT OUTSTANDING

Looking solely at multifamily mortgages in the third quarter of 2025, agency and GSE portfolios and MBS hold the largest share of total multifamily debt outstanding at $1.11 billion (50 percent), followed by banks and thrifts with $651 billion (29 percent), life insurance companies with $263 billion (12 percent), state and local government with $93 billion (4 percent), and CMBS, CDO and other ABS issues holding $70 billion (3 percent).

CHANGES IN COMMERCIAL/MULTIFAMILY MORTGAGE DEBT OUTSTANDING

In the third quarter, agency and GSE portfolios and MBS saw the largest gains in dollar terms in their holdings of commercial/multifamily mortgage debt – an increase of $27.8 billion (2.6 percent). Bank and thrifts increased their holdings by $13.8 billion (0.8 percent), life insurance companies increased their holdings by $12.1 billion (1.6 percent), and Federal government increased their holdings by $1.2 billion (1.2 percent).

In percentage terms, agency and GSE portfolios and MBS saw the largest increase – 2.6 percent – in their holdings of commercial/multifamily mortgages. Conversely, REITs saw their holdings decrease 2.5 percent.

CHANGES IN MULTIFAMILY MORTGAGE DEBT OUTSTANDING

The $40.3 billion increase in multifamily mortgage debt outstanding from the second quarter of 2025 represents a quarterly gain of 1.8 percent. In dollar terms, agency and GSE portfolios and MBS saw the largest gain – $27.8 billion (2.6 percent) – in their holdings of multifamily mortgage debt. Bank and thrifts increased their holdings by $6.4 billion (1.0 percent), and life insurance companies increased by $6.4 billion (2.5 percent).

Nonfinancial corporate business saw the largest percentage increase in their holdings of multifamily mortgage debt, up 7.3 percent. State and local government retirement funds saw the largest decline in their holdings of multifamily mortgage debt at 1.9 percent.

MBA’s analysis is based on data from the Federal Reserve Board’s Financial Accounts of the United States, the Federal Deposit Insurance Corporation’s Quarterly Banking Profile, and data from Trepp LLC. More information on this data series is contained in Appendix A.

 

For full report, please click the source link above.

 

ICE First Look at Mortgage Performance: Seasonal and Calendar Factors Drive Rise in November Delinquencies

Posted on by Safeguard

Industry Update
December 23, 2025

Source: ICE Mortgage Technology

ICE Mortgage Technology, a neutral provider of a robust end-to-end mortgage platform and part of Intercontinental Exchange, Inc. (NYSE: ICE), today released the November 2025 ICE First Look at mortgage delinquency, foreclosure and prepayment trends.

“While the topline delinquency numbers show a sharp increase, we’ve seen comparable spikes in prior years when November ended on a Sunday and scheduled payments didn’t post until early December,” said Andy Walden, Head of Mortgage and Housing Market Research at ICE. “Overall performance was in line with what historical patterns would suggest. That said, December data will be important to watch to confirm how quickly borrowers recover from this temporary uptick.”

Key takeaways from this month’s findings include:

Delinquencies rose: The number of past-due mortgages rose by 275,000 from October to 2.3 million in November, pushing the national delinquency rate to 3.85% — the highest level in over four years.

Inflow of newly delinquent borrowers: 609,000 borrowers who were current on payments in October became delinquent in November, marking the largest single-month inflow since May 2020. Rolls from 30- to 60-day and 60- to 90-day delinquency bands also increased sharply.

Delinquencies aligned with historical calendar effects: November’s delinquency rate increase was in line with prior years when the month ended on a Sunday, which last occurred in 2014 (+61 bps), 2008 (+112 bps), and 2003 (+57 bps) — all of which exceeded this year’s 50 basis point increase.

Prepayments declined: After reaching a 3.5-year high in October, prepayment activity retreated in November, falling 18% month over month.

Foreclosure activity mixed: Foreclosure activity dipped in November due to seasonal and calendar effects. However, foreclosure starts (+25%), sales (+25%) and active foreclosure volumes (+21%) all remain well above last year’s levels.

 

For full report, please click the source link above.

 

FEMA Fire Management Assistance Declaration – Oklahoma Sunny Fire

Posted on by Safeguard

FEMA Alert
December 19, 2025

FEMA has issued a Fire Management Assistance Declaration for the state of Oklahoma to supplement state, tribal and local recovery efforts in areas affected by the Sunny Fire on December 19, 2025.  The following counties have been approved for assistance:

Public Assistance:

  • Kiowa

 

Oklahoma Sunny Fire (FM-5615-OK)

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

Safeguard COO Mike Greenbaum Featured in DSNews

Posted on by Safeguard

Safeguard in the News
December 2025

Source: DSNews

MIKE GREENBAUM COO, Safeguard Properties

Q: How is Safeguard leveraging technology such as AI to improve efficiency or compliance in field services today?

GREENBAUM: Safeguard is using AI to solve long-standing operational bottlenecks in field services rather than treat AI as a buzzword. Our approach focuses on practical automation that enhances compliance, improves accuracy, and reduces turnaround time. Key areas include:

AI-Driven Photo & Video Validation

  • Automated routine enforcement using GPS, geofencing, and image analysis.
  • Occupancy detection from both photos and 360-degree drive-by video.
  • Hazard Insurance damage detection.
  • Build expectancy in our audit processes based on Computer Vision and Machine Learning.

AI-Supported Script Processing

  • Our inspection scripts now allow AI to answer structured questions based on video walkthroughs.
  • CoreScript automation helps flag missing photos, inconsistent answers, and items not in compliance before orders reach QA.

AI Agents for Vendor Performance

  • Automated routines track zone capacity, underperformance, milestone gaps, production rate, and delayed commitments.
  • Alerts are sent to vendors via text, app notifications, and weekly summaries.

Q: How do you balance the human expertise required for nuanced field decisions with the increasing automation of inspections, reporting, and quality assurance?

GREENBAUM: Automation is powerful—but field conditions are nuanced, and the wrong kind of automation can misinterpret critical risks. Our philosophy is: AI does the repeatable work. Humans do the judgment work.

  • AI handles tasks requiring volume and consistency: labeling photos, detecting anomalies, verifying GPS, flagging risks, and identifying missing requirements.
  • Humans assess complex structural issues, interpret nuanced damage, handle homeowner interactions, and determine conveyance readiness.

We design systems so inspectors spend more time on decisions and less on documentation; back-office staff focus on exceptions; and AI provides a second set of eyes, not a substitute.

Q: How are companies like Safeguard managing to maintain service quality and compliance standards despite financial pressure from pricing models that may not have been updated?

GREENBAUM: Safeguard succeeds by aggressively optimizing operational efficiency:

  • AI-driven QA and audit reduce rework and prevent curtailments.
  • Better routing and mobile workflows minimize drive time.
  • Training programs stabilize vendor performance.
  • Data-driven vendor capacity management ensures assignment accuracy.
  • Automation reduces overhead, preserving vendor payments.

We remove inefficiency rather than reduce quality.

Q: Labor shortages continue to challenge preservation firms nationwide. What are the biggest hurdles you face when recruiting and retaining qualified field contractors today?

GREENBAUM: Key challenges:

  • Gig workers expect faster pay cycles, routing, and minimal paperwork.
  • Skill mismatch between general gig labor and preservation requirements.
  • Rising fuel and insurance costs.
  • Coverage gaps in rural regions.

Safeguard addresses this with app-based assignments, video training, realistic expectations, and consistent work volume.

Q: How do generational shifts in the workforce— especially younger workers’ expectations for technology, flexibility, and communication— affect the way you structure field operations or training programs?

GREENBAUM: Younger workers expect mobile tools, fast communication, feedback loops, transparency, and flexible work.

Safeguard adapts through:

  • Modernized mobile app interfaces
  • In-app messaging and automated reminders
  • Video-based training
  • Gamified dashboards for performance and capacity

This improves onboarding, retention, and productivity.

Q: There has been notable consolidation across field services and related sectors in recent years. How is this reshaping the competitive landscape?

GREENBAUM: Consolidation has created fewer, larger national players with the scale to invest in technology. Smaller providers struggle with fluctuating volumes and compliance requirements. Safeguard’s national infrastructure and technology depth give it an advantage in this environment.

Q: Are there opportunities for greater collaboration across preservation, asset management, and mortgage servicing that the industry hasn’t fully capitalized on yet?

GREENBAUM: Yes—significant opportunities exist:

  • Unified data models for preservation, valuations, inspections, and asset disposition
  • Shared AI-driven risk scoring
  • Consolidated vendor performance tracking
  • Better integration of insurance loss draft workflows
  • Standardized occupancy verification approaches

The technology exists—the coordination can be enhanced.

Q: What are the “blind spots” you think the industry still has: areas that aren’t getting enough attention but will be critical for long-term sustainability?

GREENBAUM: Critical blind spots include:

  • Occupancy verification accuracy
  • Aging vendor workforce
  • Climate-driven damages are increasing in frequency and cost
  • Underutilization of remote sensors, cameras, and robotics
  • Data interoperability gaps across servicing ecosystem
  • Fraud detection opportunities using AI that remain underdeveloped

Safeguard is actively building solutions to address these blind spots.

 

To access the full story, please click the source link above.