Stacie Hartman

The Mortgage Blog of Stacie Hartman

Foreclosure Activity Jumps In First Quarter

According to RealtyTrac’s U.S. Foreclosure Market Report for the first quarter of 2010, foreclosure filings, which include default notices, scheduled auctions, and bank repossessions, increased 7 percent from the previous quarter and 16 percent from the first quarter of 2009. There were foreclosures reported on 932, 234 properties during the first three months of 2010. Rich Sharga, senior vice president at RealtyTrac, said the most likely scenario is that the market will be working through the log jam of distressed properties well into 2013. More than 3 million households are expected to receive a foreclosure notice this year. More here and here.

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