DSNews The homepage of the servicing industry
Nationwide bankruptcy filings were about 14 percent lower in July 2016 compared with a year earlier, continuing an ongoing trend of decline, according to July 2016 AACER bankruptcy data reported by Epiq Systems. Bankruptcy filings totaled 61 thousand 308 in July, which was a decrease from June’s total of 66 thousand 303, but was over 14 percent lower than July 2015’s total of 71 thousand 875.
Year-to-date, there have been 459,845 bankruptcy filings nationwide for the first half of 2016 (about 65,692 per month), down from 2015’s year-to-date total through the end of July of 494,795 (about 70,685 per month).The average number of filings per day in July 2016 was 3,065 over 20 days, which is an increase from June’s daily average of 3,014 over 22 days.
In a recent report from Zillow, according to climate scientists, if sea levels rise as much as predicted by the year two thousand one hundred, almost 300 U.S. cities could potentially lose at least half their homes as well as 36 U.S. cities could be completely lost. If this situation takes place based on Zillow's calculations, it may turn out that water poses almost as much of a problem for the housing market in the future as negative equity has in the past.
