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Six men allegedly kidnapped two people at a Margaritaville Hollywood Beach Resort in Florida and tortured them, according to officials.

US Property Foreclosure Filings Increase 14% Year Over Year

Authored by Naveen Athrappully via The Epoch Times,

There were a total of 40,355 U.S. properties with foreclosure filings in May—down 5 percent month-over-month but up by 14 percent compared to the same period in 2025.

“The increase marks the continuation of a trend of rising foreclosure activity on an annual basis,” real estate analytics company ATTOM said in a June 11 statement.

In April, foreclosure filings were up 18 percent from a year back. And in the first quarter of 2026, filings were up 26 percent compared to Q1 of 2025.

“Lenders repossessed 4,092 U.S. properties through completed foreclosures (REOs) in May 2026, down 20 percent from the previous month but up 6 percent from a year ago,” ATTOM said.

Foreclosure is a legal process by which a mortgage lender repossesses a property due to borrower’s failure to make mortgage payments. The lender initially issues a notice of default when payments are missed for 90 days. If the borrower does not settle payments within 30 days, the property is repossessed and eventually sold to new buyers.

In May, one in every 3,562 U.S. housing units had a foreclosure filing, ATTOM reported. Florida had the highest foreclosure rate, with one in 2,110 units. This was followed by South Carolina, Maryland, Nevada, and Indiana.

Among metro areas with a population of at least 2 million, Cleveland, Ohio, had the highest foreclosure rate last month, with one in 1,524 housing properties. This was followed by Baltimore, Maryland; Tampa, Florida; Riverside, California; and Orlando, Florida.

As for states with the highest number of completed foreclosures, Texas ranked at the top with 519, followed by California, Florida, Illinois, and Michigan.

“Foreclosure starts and completed foreclosures both increased compared to last year, reflecting ongoing pressure on some homeowners as elevated mortgage rates, rising ownership costs, and affordability constraints persist,” CEO at ATTOM Rob Barber said.

“At the same time, foreclosure volumes remain well below historical norms, indicating that the housing market continues to show resilience despite these challenges.”

In a June 12 post, legal services company Nolo predicted foreclosure rates to gradually rise in the latter part of this year.

“Factors such as surging insurance premiums, elevated interest rates, climbing HOA fees, and reduced buyer demand are contributing to a growing housing crisis,” Nolo said. “Also, markets with high property taxes or economies that rely on volatile sectors (like Las Vegas, Nevada) are at risk of seeing an increase in foreclosures during tough economic times.”

The average weekly mortgage rate on a 30-year fixed-rate mortgage has remained above 6 percent for every single week since mid-September 2022, except for a brief dip in late February this year, according to data from Freddie Mac.

Meanwhile, the housing market slowed down in May after improving in April due to the increase in mortgage rates, real estate brokerage Redfin said in a June 3 statement.

The trend of rising foreclosures is likely to continue unless there is significant relief or intervention, Nolo said.

In February, a group of lawmakers reintroduced the Preserving Homes and Communities Act to protect homeowners from foreclosures, according to a Feb. 4 statement from the office of Sen. Jack Reed (D-R.I.).

The bill seeks to ensure that local entities with public missions, such as municipalities, states, and nonprofits, have the “first opportunity” to buy nonperforming and reperforming mortgages from the Federal Housing Administration, Fannie Mae, and Freddie Mac. Typically, such loans are sold at a discount to institutional investors and private equity companies via note sale programs.

The bill also seeks to make sure that borrowers receive a notice of at least 90 days before their mortgages are placed in note sales.

“Housing costs are higher than ever before and we need to make it easier for working families to keep a roof over their heads. The national data clearly shows that the current note sales system is not working properly and is prioritizing the wants of investors over the needs of homeowners,” Reed said.

The bill “will implement key reforms to strengthen foreclosure protections and better protect homeowners and communities,” the senator said.

The bill has been referred to the Senate Committee on Banking, Housing, and Urban Affairs.

Tyler Durden Mon, 06/15/2026 - 15:05

Ben Stiller is screaming court side, Prince Harry’s arrival was a surprise, Timothée Chalamet has champagne in his eyes, Knicks in five! Thanks to Jordyn Woods’ lucky purse, all of New York City is going wild over the New York Knicks winning the 2026 NBA championship. The “Dune” actor was practically an honorary player, as...

Ben Stiller is screaming court side, Prince Harry’s arrival was a surprise, Timothée Chalamet has champagne in his eyes, Knicks in five! Thanks to Jordyn Woods’ lucky purse, all of New York City is going wild over the New York Knicks winning the 2026 NBA championship. The “Dune” actor was practically an honorary player, as...

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Karl-Anthony Towns' fiancée had faith the team could take it all way back in December 2025.

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Three Factors Leave Salty-Snack Demand Stale

UBS analyst Peter Grom, who covers U.S. consumer staples including packaged food, beverages, and household products, served up a sour outlook for the salty-snack category, warning that the recovery investors had hoped for remains further out than expected.

"Despite recent optimism around a potential recovery in salty snacks, our analysis would suggest the category remains challenged. While tracked channel growth has turned positive relative to prior periods, we have observed momentum beginning to moderate with L13W $ takeaway growth decelerating to +1.2% vs. the +3.4% peak growth seen earlier in the year," Grom began the note.

Grom pointed out that the salty-snack category remains under pressure from a confluence of headwinds, including rapid GLP-1 adoption, potential SNAP benefit reductions, and mounting macroeconomic challenges faced by cash-strapped consumers.

"The combination of GLP-1 adoption, potential SNAP benefit reductions, and broader consumer spending pressures tied to the current geopolitical conflict has weighed on snack demand," the analyst said.

Grom noted that the Nielsen data show little evidence of a robust recovery, with buy rates, purchase frequency, spending per trip, units per trip, and overall projected sales all slowing. The category is also losing share to "better-for-you" options. 

A Recovery Remains Uncertain

Snack trend down

He pointed out that competitive pressure has greatly intensified, adding that Pepsi remains the junk food king, with nearly half of category sales, but most large incumbents are generating flat-to-negative growth across tracked channels.

Pepsi's Frito-Lay North America food unit has experienced negative sales growth for much of the past year and continues to lose share despite investments in pricing, promotions, merchandising, and shelf space.

Another pressure point has been declining sales at convenience stores. He said C-store salty-snack sales, historically a strong growth engine, fell 3.5% in the latest 13 weeks as higher pump prices weighed on traffic and impulse purchases. Another headwind at C-stores has been the decline in SNAP sales.

Related consumer trend coverage:

• Here's What Happened Inside Convenience Stores When Gas Hit $4

• Here's What Happened Inside Gas Stations When Gas Hit $4

• Beer Demand Goes Flat As Even Alcoholics Pull Back With Gas Above $4

• Energy Drinks Become Latest Casualty As Fuel Shock Shifts Consumer Behavior

One takeaway from Grom's note is that the confluence of pressures mentioned above has collided across the salty-snack aisle, derailing the recovery investors had hoped would take shape this year.

Professional subscribers can read more about consumer trends at our new Marketdesk.ai portal. 

Tyler Durden Mon, 06/15/2026 - 14:45

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