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S.C. foreclosures up 31% in October from previous month

Real Estate - Residential
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One in every 801 homes in South Carolina was in some stage of foreclosure during October, according to a report from Attom Data Solutions, the parent company of real estate data company RealtyTrac.

Last month, 2,697 homes were in foreclosure, which could include default notices, scheduled auctions and bank repossessions. That’s up nearly 31% from September and down 5.47% from October 2015, the report said.

Last month, 2,697 homes in South Carolina were in foreclosure, up nearly 31% from September and down 5.47% from October 2015, according to RealtyTrac. (Photo/file)Across the country, 105,481 homes were in foreclosure last month, a 27% increase from September and an 8.38% drop from October 2015. That total equates to about one in every 1,258 homes in foreclosure, according to the report.

“While some states are still slogging through the remnants of the last housing crisis, the foreclosure activity increases in states such as Arizona, Colorado and Georgia are more heavily tied to loans originated since 2009 — after most of the risky lending fueling the last housing boom had stopped,” Daren Blomquist, senior vice president at Attom Data Solutions, said in the report. “The increase in October isn’t enough evidence to indicate a new foreclosure crisis emerging in these states, but it certainly demonstrates that this housing recovery is not completely devoid of risk.”

Federal Housing Administration and Veterans Affairs loans with low down payments appear to be the most susceptible to foreclosure, Blomquist added.

“Our data shows FHA and VA loans combined represent 49% of all active foreclosure inventory for loans originated in the seven years ending in 2015,” Blomquist said in the report. “By comparison, FHA and VA loans only represent 12% of all active foreclosure inventory among loans originated in the previous seven-year period, from 2002 to 2008.”

Foreclosure data for S.C. counties in October


County

1 in X homes in foreclosure

Total
foreclosures

% chg. from
Sept. ’16

% chg. from
Oct. ’15

Abbeville
Aiken
Allendale
Anderson
Bamberg
Barnwell
Beaufort
Berkeley
Calhoun
Charleston
Cherokee
Chester
Chesterfield
Clarendon
Colleton
Darlington
Dillon
Dorchester
Edgefield
Fairfield
Florence
Georgetown
Greenville
Greenwood
Hampton
Horry
Jasper
Kershaw
Lancaster
Laurens
Lee
Lexington
Marion
Marlboro
McCormick
Newberry
Oconee
Orangeburg
Pickens
Richland
Saluda
Spartanburg
Sumter
Union
Williamsburg
York
Source: RealtyTrac

2,406
621
0
753
1,277
802
1,198
686
1,044
913
1,142
975
1,945
2,906
1,164
1,164
2,730
444
1,511
1,060
1,683
1,780
662
597
1,009
1,370
1,511
544
702
1,094
1,932
460
1,239
1,717
1,092
996
2,992
1,086
758
473
1,323
875
664
1,082
3,054
778
 

5
118
0
113
6
13
78
110
7
190
21
15
11
6
17
26
5
127
7
11
35
19
299
52
9
138
7
51
47
28
4
253
12
7
5
18
13
39
68
347
7
141
70
13
5
124
 

-16.67
32.58
-100.00
85.25
200.00
62.50
-35.00
23.60
600.00
104.30
50.00
66.67
-8.33
-45.45
13.33
-7.14
66.67
35.11
75.00
120.00
29.63
11.76
50.25
79.31
350.00
16.95
40.00
-5.56
135.00
64.71
-33.33
20.48
71.43
75.00
66.67
63.64
-45.83
-20.41
94.29
33.46
40.00
23.68
7.69
30.00
0.00
25.25
 

-44.44
15.69
0.00
-7.38
50.00
-23.53
-29.09
41.03
250.00
27.52
-32.26
36.36
120.00
-25.00
-5.56
44.44
-28.57
22.12
75.00
120.00
-5.41
72.73
32.30
73.33
-18.18
-18.82
40.00
10.87
113.64
64.71
0.00
0.00
100.00
600.00
66.67
50.00
-60.61
34.48
15.25
-49.64
16.67
-12.42
55.56
8.33
-28.57
-19.48
 

Reach Ashley Heffernan at 843-849-3144.

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