Foreclosure Activity Increases 4 Percent in August

ALTADENA, CA - JULY 25:  A foreclosed home is ...
Image by Getty Images via @daylife

Foreclosure filings – notices of default, scheduled auctions, and bank repossessions – increased 4 percent in August compared with July, but decreased 5 percent compared with the same period a year ago, according to RealtyTrac.

Properties receiving a notice of default decreased 1 percent in August compared with July and 30 percent compared with August 2009 marking the seventh consecutive month of year-over-year decreases.  Foreclosure auctions increased 9 percent in August compared with the prior month, while bank repossessions increased 3 percent during the same period, according to the report.

California accounted for 20 percent of the total number of properties receiving a foreclosure notice in August, an increase of 3 percent from July, but down 25 percent compared with August 2009.

Enhanced by Zemanta