Lenders have foreclosed on 78,133 properties in January, which is up by 12% from the previous month but it is 11% less then a year ago. Although there has been an increase in default notices, auctions, and bank repossessions in January, it is encouraging to know that the increase is 17% less then a year ago.
5 states are responsible for more then 50% of the nation’s total foreclosure activity; California, Florida, Michigan, Arizona and Illinois. Nevada was the hardest hit state with the highest foreclosure rate in the nation. Bank repossessions increased 16% from December which is more then 5 times the national average. Even though we are seeing more foreclosures, they are less then what it was a year ago. Let’s hope that this is a good sign that we might be on the right track to recovery.
- U.S. home foreclosures rise in January – Reuters (news.google.com)
- Pace of some foreclosures slows in January (usatoday.com)
- Mortgage default notices slow sharply in January (seattletimes.nwsource.com)
- U.S. home foreclosures rise in January (reuters.com)
- Foreclosure sales activity back up in Fresno (fresnobeehive.com)
- U.S. home foreclosures rise in Jan, more seen (reuters.com)
- Risk of foreclosure dips, but remains elevated (seattletimes.nwsource.com)
- US DATA: MBA Q4 mtgs in foreclosure were 4.63%, vs… (forexlive.com)
- U.S. foreclosures still rising (theglobeandmail.com)
- January Foreclosure Notices Drop to 3 Year Low (cbsnews.com)
- Foreclosure Volume SOARS 50% In California And Arizona, As The Moratorium Ends (businessinsider.com)
- Housing Seizures Rise (theatlantic.com)
- Monthly foreclosures start climbing again (ftalphaville.ft.com)