According to Realtytrac's most recent survey, foreclosures in the United States are down 3.0% in June compared to the previous month's levels, but up 53% from the previous year.
"June was the second straight month with more than a quarter million properties nationwide receiving foreclosure filings," according to James J. Saccacio, CEO of RealtyTrac. "Foreclosure activity slipped 3 percent lower from the previous month, but the year-over-year increase of more than 50 percent indicates we have not yet reached the top of this foreclosure cycle.
Bank repossessions, or REOs, continue to increase at a much faster pace than default notices or auction notices. REOs in June were up 171 percent from a year ago, while default notices were up 38 percent and auction notices were up 22 percent over the same time period."
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"June was the second straight month with more than a quarter million properties nationwide receiving foreclosure filings," according to James J. Saccacio, CEO of RealtyTrac. "Foreclosure activity slipped 3 percent lower from the previous month, but the year-over-year increase of more than 50 percent indicates we have not yet reached the top of this foreclosure cycle.
Bank repossessions, or REOs, continue to increase at a much faster pace than default notices or auction notices. REOs in June were up 171 percent from a year ago, while default notices were up 38 percent and auction notices were up 22 percent over the same time period."
Read more news..
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