Getting out of foreclosure is only half the battle. The other half is staying out.
After months or years of not making house payments and trying to avoid foreclosure, some homeowners have been able to reinstate their mortgage with a permanent loan modification that gives them the opportunity to keep their home and avoid foreclosure for good.
Unfortunately, some of these homeowners have stopped making mortgage payments again and ended up back in foreclosure.
That's called a repeat foreclosure, and it's been a big problem since the housing crisis began. ATTOM Data Solutions recently reported data on repeat foreclosures. The results show very high rates in some parts of the country.