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Foreclosure filings hit record in April

Goodpasture

Well-known member
LINK

U.S. foreclosure filings reached a record high in April, rising almost 65% over the previous year and putting municipalities at risk by cutting into the value of taxed property, according to a study released Wednesday.

Some 243,353 households, nearly one in 519, received a foreclosure filing during April, according to the U.S. Foreclosure Market Report from RealtyTrac, an online marketplace that tracks foreclosed properties. That was up 4% from March, and surpassed the record of 239,851 set in August 2007.

It's "the highest monthly total we've seen since we began issuing the report in January 2005," said chief executive James J. Saccacio in a statement.
 

backhoeboogie

Well-known member
And Wells Fargo has a 9 day backlog for closing on housing sales.

Go figure. Friend of mine sold his house and wants to close on another he is buying. It will be June before he can get it done because of the backlog. He's storing his furniture in a barn.
 

hopalong

Well-known member
Goodpasture said:
LINK

U.S. foreclosure filings reached a record high in April, rising almost 65% over the previous year and putting municipalities at risk by cutting into the value of taxed property, according to a study released Wednesday.

Some 243,353 households, nearly one in 519, received a foreclosure filing during April, according to the U.S. Foreclosure Market Report from RealtyTrac, an online marketplace that tracks foreclosed properties. That was up 4% from March, and surpassed the record of 239,851 set in August 2007.

It's "the highest monthly total we've seen since we began issuing the report in January 2005," said chief executive James J. Saccacio in a statement.
[/quote

That is 3502 actual foreclosuers.!! What is the number of first tiime home buyers in the same time frame?? Seems to me i read someplace that there were over 10,000 new and first time home buyers in the same time frame. 1 in 519 based on 10000 new owners seems to be rather low over all or less than 20 additional filings.
I am sure the doom and gloom folks will have a field day with me now :roll: :roll:

A foreclosure filing is not the same as an actual foreclosure or foreclosure by sale :roll:

The total article that was not shown


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Foreclosure Filing Up 68 Percent Since November 2006 Per RealtyTrac
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RealtyTrac, Inc., a company that tracks delinquencies and foreclosures was reporting Thursday that the number of foreclosure filings in November was 68 percent higher nationwide than those in November 2006.

201,950 foreclosure filings were reported last month; in November 2006 the figure was 120,334. The November filings, however, were 10 percent lower than the 224,451 reported in October.

RealtyTrac's numbers tend to be a little squishy as they include default notices (which in some cases come when a mortgage payment is 60 days late,) auction sale notices, and bank repos. In different states these filing represent different degrees of borrower difficulty. Also where a homeowner has a first and a second mortgage he may have defaulted on both, causing a double count in the statistics.
RealtyTrac said that foreclosure filings increased from November 2006 to November 2007 in 43 states with Nevada, Florida, and Ohio having the highest rates.

edited to show the whole article :D :D :D
 

Cal

Well-known member
Heard that alot of the foreclosures were actually people that got caught up in the "Flip That House" mania.

This misses and her sisters were in Vegas last week. She says that the strip and the casinos were packed with people, even her commie sister said that it didn't look like an economic slowdown.
 
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