A spike in foreclosure filings in Michigan is raising eyebrows.
Michigan saw a 38% spike in home foreclosure filings in October over the previous month.
It’s the sharpest month-to-month jump since the foreclosure crisis of the Great Recession.
Daren Blomquist is with Attom Data Solutions. He says it’s too soon to suggest a new foreclosure crisis is brewing.
“We’re actually still below that pre-recession, pre-crisis level in Michigan, even with this jump in October,” says Blomquist.
Blomquist says there’s no clear reason for the spike in foreclosure filings in Michigan and the rest of the country.