By Jann Swanson
Posted To: MND NewsWire
As the housing industry continues to recover we see occasional troublesome spikes in one statistic or another. RealtyTrac reported a couple of such statistics in its U.S. Foreclosure Market Report for January, surges that, at first glance look ominous , but are probably good news . First, RealtyTrac reports that overall foreclosure activity increased during the month, driven primarily by a large uptick in completed foreclosures or bank repossessions which surged to a 15 month high and a much smaller increase in scheduled foreclosure auctions. Rather than signaling further trouble, however these numbers, occurring as they do in the last two steps in the process, are likely indications that lenders are finally, to paraphrase Daren Blomquist, RealtyTrac vice president, “cleaning up.” RealtyTrac…(read more)
Via:: Foreclosure Spikes Signal “Spring Cleaning” RealtyTrac says
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