Probability of Losing Your Home to Foreclosure (Annual)
1 in 1,111 (0.09%)
Annual probability in US
The annual foreclosure rate is approximately 0.09% of US mortgaged properties, significantly down from the 2010 peak during the housing crisis.
The annual foreclosure rate in the US was approximately 0.09% of mortgaged properties in 2023, representing a dramatic decline from the peak of about 2.23% in 2010 during the housing crisis. About 357,000 properties had foreclosure filings in 2023, according to ATTOM Data Solutions.
Foreclosure risk factors include adjustable-rate mortgages (ARMs) that reset to higher payments, job loss, medical emergencies, divorce, taking on a mortgage that is too large relative to income, and declining property values (negative equity). States with judicial foreclosure processes (requiring court approval) tend to have longer timelines, giving homeowners more time to find solutions.
If you're struggling with mortgage payments, contact your lender immediately, as early intervention offers the most options: loan modification, forbearance, repayment plans, or refinancing. HUD-approved housing counseling agencies offer free advice. The CFPB requires mortgage servicers to evaluate you for loss mitigation options before beginning foreclosure. Short sale (selling for less than owed with lender approval) is another alternative to foreclosure that causes less credit damage.
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