Foreclosures Rise 71% In The Third Quarter
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According to data from RealtyTrac foreclosure filings in the third quarter rose 71% from last year to 765,558. Filings were up 3% from the second quarter.
September foreclosures rose 21% from last year, but fell 12% from August. James J. Saccacio, CEO of RealtyTrac said, "Much of the 12 percent decrease in September can be attributed to changes in state laws that have at least temporarily slowed down the pace at which lenders are moving forward with foreclosure."
Nevada, Florida, California post top state foreclosure rates in September. Nevada's foreclosure rate jumped 11% from August and 137% from last year; Florida's foreclosure jumped 9% from August and 44% from last year. California's foreclosure rate fell 32% from August but was up 36% from last year.
Other states with foreclosure rates ranking among the top 10 in September were Arizona, Georgia, Michigan, Ohio, New Jersey, Indiana and Colorado.
RealtyTrac said six states accounted for more than 60 percent of U.S. foreclosure activity in the third quarter; California, Florida, Arizona, Ohio, Michigan and Nevada.
September foreclosures rose 21% from last year, but fell 12% from August. James J. Saccacio, CEO of RealtyTrac said, "Much of the 12 percent decrease in September can be attributed to changes in state laws that have at least temporarily slowed down the pace at which lenders are moving forward with foreclosure."
Nevada, Florida, California post top state foreclosure rates in September. Nevada's foreclosure rate jumped 11% from August and 137% from last year; Florida's foreclosure jumped 9% from August and 44% from last year. California's foreclosure rate fell 32% from August but was up 36% from last year.
Other states with foreclosure rates ranking among the top 10 in September were Arizona, Georgia, Michigan, Ohio, New Jersey, Indiana and Colorado.
RealtyTrac said six states accounted for more than 60 percent of U.S. foreclosure activity in the third quarter; California, Florida, Arizona, Ohio, Michigan and Nevada.
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