REO Surge Signals Foreclosure “Clean-up”

By Jann Swanson

Posted To: MND NewsWire

Foreclosure activity increased by 20 percent in March compared to February and was up 4 percent from a year earlier. RealtyTrac, in its combined March and 1 st Quarter 2015 report said it was the first annual increase in foreclosure filings, which include default notices, scheduled auctions, and completed foreclosures or bank repossessions, since September 2010 but that the increases indicated a cleanup of lingering problems rather than a new round of distress. Despite the substantial month over month and small annual increase for the month the quarterly total was down. Filings were 7 percent lower than in the 3 rd quarter of 2014 and down 8 percent year over year to the lowest level in eight years. RealtyTrac said a total of 122,060 properties received foreclosure filings in March and 313…(read more)

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