Despite Housing Help, Foreclosures Rise

Foreclosure filings in February jumped nearly 6% from January, despite foreclosure moratoriums and prevention programs around the country.

“The 6% was a little higher than expected,” says Joel Naroff with Naroff Economic Advisors. “It’s still very high, but it’s not overly surprising. While there are moratoriums that exist, not every property is going to be spared. We should expect to see a steady rise in foreclosures.”

Many economists expect foreclosures to continue as long as unemployment mounts.