Bank repossessions and foreclosure auctions hit record levels in the third quarter, RealtyTrac said on Thursday.
372,445 foreclosure auctions were scheduled in July, August and September, while 288,345 properties were repossessed by lenders over the same time period.
Overall foreclosure filings edged up to 930,437 in the third quarter, a 4% increase from the previous quarter. One in every 139 homeowners received a foreclosure filing during those three months.
Bank repossessions, or REOs, also are on the rise. In September, a record 102,134 homes were taken back by banks. It’s the first time repos have topped 100,000 in a single month.
Fri, Oct 15, 2010
General News