Share of U.S. loans in foreclosure processes 2000-2023, per quarter
In the third quarter of 2023, the share of mortgage loans in the foreclosure process in the United States decreased slightly to 0.49 percent. Following the outbreak of the coronavirus crisis, mortgage delinquency rates in the United States spiked to the highest levels since the Subprime mortgage crisis (2007-2010). To prevent further impact on homeowners, Congress passed the CARES Act that provides foreclosure protections for borrowers with federally backed mortgage loans. As a result, the foreclosure rate remained at historically low levels.