Foreclosures spike as banks lower the boom on homeowners
CBSN
Americans are losing their homes at a faster rate this year as banks make up for lost time after state and federal foreclosure bans expired.
Lenders repossessed nearly 96,000 properties during the first three months of 2023, up 22% from the same period last year, according to real estate data provider ATTOM. Foreclosures are especially surging in some states — Illinois had the nation's highest foreclosure rate last year at 1 in every 762 homes, followed by Delaware (1 in 812) and New Jersey (1 in 824).
Housing experts in Illinois pointed to the expiration of a foreclosure moratorium the state implemented during the pandemic as one factor behind the jump in people losing their homes. That "created a potential backlog of foreclosure activity," said Geoff Smith, executive director of DePaul University's Institute for Housing Studies in Chicago, noting that many households were technically in foreclosure while the ban was in place.
On the eve of the D-Day invasion, Gen. Dwight Eisenhower spent the remaining hours of daylight with the paratroopers who were about to jump behind German lines into occupied France. A single moment captured by an Army photographer became the most enduring image of America's greatest military operation.
This story previously aired on March 6, 2016. Child Advocate: Do you know why you are here today? 911 operator: 911. What is your emergency? 911 operator: Is there anybody else in the house with you? Robin Doan [to 911]: I so hope my mom is not dead. Robin Doan [to 911]: Please can you just send somebody out here? Robin Doan [to 911]: I'm cold. I'm very cold. Robin Doan [to 911]: I heard my mama scream ... Robin Doan [to 911]: I want my mom. I want my mom. Robin Doan [to 911]: It's on Highway 70. It's about 13.3 miles out from the bowling alley. I have a purple shirt on I have purple pants on. Robin Doan [to 911]: All I want right now is my blanket and my pillow. ... I see him. I see him. Robin Doan [advocate interview]: I really don't want to go to sleep anymore. It makes me to where I'm too scared. I really don't want to go to sleep. OK. Robin Doan [advocate interview]: He had shot in my room and missed me. Advocate: Did you hear anybody say anything. Could you hear anybody talking? Robin Doan [advocate interview]: I don't know this for sure but I thought I saw a white eyes ... a white face. Robin Doan [advocate interview]: And when he shot I saw a flash. Robin Doan [advocate interview]: I can't talk about it. It's too heartbreaking. Levi King interrogation: Before I even realized it, I mean, I'd just pointed it at him and fired.