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prima:Mortgage banking calm despite 4.75% increase in residential foreclosures

Although 2,315 homes were repossessed in 2023, OCIF’s historical data reflects that it was the third lowest foreclosure year since 2012

June 10, 2024 - 2:52 PM

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This content was published more than 6 months ago.
The bank resorts to mechanisms such as private or court auctions to dispose of the homes it repossesses as a result of foreclosing on that property. (pablo.martinez@gfrmedia.com)

The year 2023 culminated with 2,315 residential foreclosures, 4.75% more than the 2,210 completed in 2022, according to the annual report published by the Office of the Commissioner of Financial Institutions (OCIF).

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