Foreclosure filings up 71% in Q3
Bailout News, Politics, California Housing Crash, Florida Housing Crash, The Economy, Real Estate October 23rd, 2008
This from USA Today:
WASHINGTON (AP) — The number of homeowners ensnared in the foreclosure crisis grew by more than 70% in the third quarter of this year compared with the same period in 2007, according to data released Thursday.
Nationwide, nearly 766,000 homes received at least one foreclosure-related notice from July through September, up 71% from a year earlier, said foreclosure listing service RealtyTrac Inc.
By the end of the year, RealtyTrac expects more than a million bank-owned properties to have piled up on the market, representing around a third of all properties for sale in the U.S.
Six states — California, Florida, Arizona, Ohio, Michigan and Nevada — accounted for more than 60% of all foreclosure activity in the quarter, with California alone making up more than a quarter of all U.S. foreclosure filings.
October 23rd, 2008 at 12:40 pm
Indeed foreclosure rate continues to amaze. A total of 765,558 U.S. properties got a default notice, were warned of a pending auction or were foreclosed on in the quarter, the most since records began in January 2005, the Irvine, California-based seller of default data said in a statement today. See the story at http://www.huliq.com/1/71223/foreclosure-filings-continue-amaze