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June 2023 » thefivestar.com 61 J O U R N A L June 2023 » Youngstown, Ohio, where 7.4% of proper- ties in the foreclosure process were vacant The highest zombie-foreclosure rates in major metro areas with at least 500,000 residential properties and at least 100 homes facing foreclosure in Q2 of 2023 were found in: » Cleveland, Ohio, where 7.1% of homes in the foreclosure process were vacant » Indianapolis, Indiana, where 6.5% of homes in the foreclosure process were vacant » St. Louis, Missouri, where 5.8% of homes in the foreclosure process were vacant » Baltimore, Maryland, where 5.7% of homes in the foreclosure process were vacant » Pittsburgh, Pennsylvania, where 5.4% of homes in the foreclosure process were vacant Among the 23.6 million investor-owned homes throughout the United States in Q2 of 2023, approximately 843,000 are vacant, or 3.6%. The highest levels of vacant inves- tor-owned homes were found in: » Indiana, where 6.9% were vacant » Alabama, where 6.1% were vacant » Oklahoma, where 6% were vacant » Ohio, where 5.9% were vacant » Illinois, where 5.8% were vacant Among the roughly 14,900 foreclosed, bank-owned homes in the United States during Q2 of 2023, 14.5% were vacant. In states with at least 50 bank-owned homes, the largest vacancy rates were found in: » Iowa, where 27.8% were vacant » Ohio, where 24.8% were vacant » New Mexico, where 22.9% were vacant » Indiana, where 22.8% were vacant » New York, where 20.8 were vacant The highest zombie-foreclosure rates in U.S. counties with at least 500 properties in the foreclosure process during Q2 of 2023 were found in: » Peoria County, Illinois, where 11.7% were zombie foreclosures » Broome County (Binghamton), New York, where 11.6% were zombie foreclosures » Baltimore County, Maryland, where 11.2% were zombie foreclosures » Lake County, Illinois (outside Chicago), where 9.9% were zombie foreclosures » Marion County (Indianapolis), Indiana, where 8.5% were zombie foreclosures AmongZIP codes with at least 1,000 residential properties, 44 of the 50 with the largest portions of overall homes in zombie status were found in New York, Ohio, and Illi- nois, as well as seven in Cleveland, Ohio. The biggest ratios were found in the following ZIP codes: » 10993 in Rockland County (West Haver- straw), New York (one in 191 homes) » 44112 in Cleveland, Ohio (one in 213) » 13754 in Broome County (Deposit), New York (one in 239) » 44108 in Cleveland, Ohio (one in 255) » 73554 in Greer County (Mangum), Oklaho- ma (one in 259) POST- FORBEARANCE WORKOUT PERFORMANCE SUFFERS IN APRIL T he Mortgage Bankers Association's (MBA) monthly Loan Monitoring Survey found that the total number of loans now in forbearance decreased by four basis points from 0.55% of servicers' portfolio volume in the prior month to 0.51% as of April 30, 2023. According to the MBA's estimate, 255,000 homeowners remain in forbearance plans, and mortgage servicers have provided forbearance options to approximately 7.8 million borrowers since April 2020. In April 2023, the share of Fannie Mae and Freddie Mac (GSE) loans in forbearance decreased two basis points from 0.26% to 0.24%. Ginnie Mae loans in forbearance de- creased seven basis points from 1.18% to 1.11% and the forbearance share for portfolio loans and private-label securities (PLS) decreased seven basis points from 0.68% to 0.61%. "While the number of loans in forbear- ance continues to dwindle, there was some "Zombie foreclosures keep inching up as lenders pursue more delinquent homeowners in courts around the country. All indications are that the number of zombie properties will keep going up slowly, given that foreclosures are up." —Rob Barber, CEO, ATTOM