(KRON) — There’s been a 90-percent jump in foreclosures in the Bay Area since last year.

“You never want to see a jump in foreclosure activity,” says Rick Sharga, Executive Vice President of market intelligence at ATTOM Market Research. He says despite the high number of foreclosures, the Bay Area is actually holding up quite well.

“The country as a whole saw foreclosure activity go up 150% year over year,” he told KRON4. Sharga says there are multiple reasons for the high rise in foreclosures.

First, government eviction moratoriums put in place during the pandemic are gone, and now banks can proceed with foreclosures.

Jason Estavillo, of Estavillo Law Group says, “We’re seeing an uptick in the people reaching out to us.” Estavillo law group in Oakland specializes in real estate and foreclosures. Estavillo says the banks want the mortgage money they couldn’t collect during the pandemic.

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“What’s happening is lenders, who granted forbearance during COVID, are now requiring them to come up with all the arrears from the forbearance period, in addition to making their monthly mortgage payment,” Estavillo told KRON 4. 

He says mortgage companies are requiring homeowners to make a balloon payment, saying to lenders, “Even if you make your monthly payment, we’re not going to accept it, until you come up with the arrears.”

Despite the rise in foreclosures, experts don’t think a housing market crash is coming, and the Bay Area will continue to remain under the national average for foreclosures.