Foreclosures jump nearly 150% in Raleigh after government lifts moratorium

RALEIGH, N.C. (WTVD) -- A newly released report highlights the struggle folks are facing to pay their bills.

Foreclosures are starting to pile up in Wake County now that the government's moratorium has been lifted. Raleigh, in particular, is experiencing one of the highest foreclosure rates in the Triangle.

Foreclosure filings skyrocketing nearly 150 percent in the City of Oaks from 2021 to 2022.

"That number does actually shock me," said Raleigh resident Gabriela Martinez.

Fayetteville is also seeing a significant hike, jumping 121 percent and Durham rising 75 percent.

Data shows on a national level, foreclosure activity is doubling annually, but is still below pre-pandemic levels.

The findings come as inflation is slowly slipping. The latest rate is 6.45 percent, which is an improvement from when it peaked in June at 9.1 percent.

"People are trying to budget their money and it's kind of hard these days," Michael Brimage said.

Gabriela Martinez said she understands how people are fighting to make their mortgage every month. She's seen some of her friends taking on second jobs just to keep the lights on and food on the table.

"Now it's over a $100 on the same produce, brands that you used to buy just a couple months ago - not even necessarily a year ago," she said.

Martinez is actively searching for a new job, explaining she needs to make more to stay at her home and continue raising her daughter.

"Even though the prices are increasing, the wage was not increased. The workload was increasing, the prices are increasing, but that pay was not increasing. So unfortunately now, I am seeking a better paying job that can support this inflation that is happening around us," said Martinez.