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HomeForeclosures posts

It was a record quarter ... for foreclosures

Posted Oct 15th 2009 8:40AM by Mark Fightmaster (RSS feed)
Filed under: Economic Data, Housing, Financial Crisis

It has been a great quarter for the economy, hasn't it? I mean, the economic recovery is in full swing . . . right? The Dow has eclipsed 10,000 for the first time in a year and there is absolutely no hint of the doldrums from which the economy has emerged. Not so fast, my friend.

According to RealtyTrac, an online marketer of foreclosed homes, 937,840 homes were foreclosed on during the past quarter -- a record number. That is a lot of foreclosures -- 5% more than in the second quarter and 23% more than a year ago. In fact, this means that one in every 136 homes were in foreclosure. Rick Sharga from RealtyTrac told CNNMoney: "They [the past quarter] were the worst three months of all time."

Continue reading It was a record quarter ... for foreclosures

Foreclosures increase a shocking 30% in February

Posted Mar 12th 2009 8:20AM by Mark Fightmaster (RSS feed)
Filed under: Economic Data, Housing, Recession

While many major lenders took steps to stem the rising tide of foreclosures, RealtyTrac reported that the number of households facing foreclosure increased 30% compared to a year ago. Last month, roughly 291,000 homes received at least one foreclosure-related notice -- which is 6% higher than January.

Western states and Florida continue to lead the country in foreclosures (with Nevada, Arizona, and California leading the West), but RealtyTrac noted that states like Idaho, Illinois, and Oregon saw more foreclosures.

RealtyTrac's Vice President Rick Sharga noted that this data "doesn't bode well ... At least for the foreseeable future, it's going to continue to be pretty ugly."

Continue reading Foreclosures increase a shocking 30% in February