Yes, your neighbor may be losing his home

By Silvio Canto, Jr.

It's devastating when your neighbor loses his home. It's apparently happening again. This is the bad story of the week:

Home foreclosures are on the rise as Americans continue to grapple with the ongoing cost-of-living crisis.

That is according to a new report published by real estate data provider ATTOM, which found that foreclosure filings -- which includes default notices, scheduled auctions and bank repossessions -- surged 28% in the third quarter to 124,539.

Foreclosures are up 34% from the same time one year ago.

"Even with the national economic upturn and job stability, it's evident that some homeowners are still grappling with the pandemic's financial aftermath or encountering new challenges," said Rob Barber, ATTOM CEO.

Encountering new challenges like Biden economics?

One of the challenges, according to the article, is that students will have to start making their college loan payments again. As I understand it, the payments stopped because of COVID and now they have to pay them again. Another possibility is that many of these borrowers will have to declare bankruptcy and accept a lifestyle change.

So here we go again. We hear that Biden economics is working but real people are losing their homes.

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