Stacie Hartman

The Mortgage Blog of Stacie Hartman

Foreclosures Up 4 Percent In Q3

One in every 139 housing units received a foreclosure filing during the third quarter. According to RealtyTrac’s U.S. Foreclosure Market Report, filings were reported on 930,437 properties, up nearly 4 percent from the previous quarter but down 1 percent from the third quarter of 2009. Scheduled auctions and bank repossessions hit record highs while new default notices were down one percent from the second quarter and 21 percent from last year. James J. Saccacio, chief executive officer of RealtyTrac, said the record number of foreclosures in the third quarter takes a bite out of the backlog of distressed properties. Foreclosure filings rose nearly 3 percent in September from a month earlier. More here and here.

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