home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

Servicing News | Servicer Ranking | Delinquency Statistics
Stories about mortgage servicers, delinquency and f o r e c l o s u r e s. Coverage of servicing lawsuits and loan servicing technology.


Foreclosures Worsen

RealtyTrac reports 115,568 October foreclosures

November 17, 2006

By MortgageDaily.com staff


Led by California, national foreclosures increased in October.

Last month, 115,568 properties nationwide entered some stage of foreclosure, a 3 percent uptick from September and 42 percent jump from the level a year earlier, according to RealtyTrac's latest U.S. Foreclosure Market Report.

The month's national foreclosure rate of one new foreclosure filing for every 1,001 households was the second highest rate of any month this year, the online foreclosure property marketplace provider reported.

"Monthly foreclosure filings were just below their high for the year, mirroring the trend from last year, when the most foreclosures of the year were also reported in October," said James J. Saccacio, RealtyTrac chief executive officer, in the written statement. "Our data from the last three months shows that foreclosures are definitely trending upward, putting more pressure on an already strained housing market, and placing buyers and investors in the driver's seat when it comes to negotiating home purchases."

Year-to-date, over 1 million properties have entered some stage of foreclosure -- up 27 percent from the same time last year, according to the announcement.

For the eighth month in a row, Colorado had the nation's highest foreclosure rate, with one new foreclosure filing for every 327 households, due to a 25 percent increase in foreclosure activity from September, RealtyTrac said. Furthermore, the 5,592 properties that entered some stage of foreclosure in October are more than double the number the state reported for the same month a year ago.

For the fifth consecutive month, Nevada reportedly had the second-highest rate, with one new foreclosure filing for every 389 households.

With a 33 percent month-over-month increase, Georgia went from being the state with the fifth-highest rate to the third-highest, with one new foreclosure filing for every 449 households, the announcement said.

The rest of the top 10 foreclosure rates belonged to Michigan, Illinois, Florida, Ohio, Tennessee, New Jersey and Utah, RealtyTrac reported.

While California had the 12th highest rate, it had the highest number -- over 16,000 -- of properties that entered a stage of foreclosure for the second month in a row, the online marketplace service said. The Golden State's foreclosure activity has more than tripled from a year ago.

Florida reportedly came in second, with 11,413 properties entering some stage of foreclosure in October, followed by Texas, Michigan, Illinois, Ohio, Georgia, Colorado, New Jersey and New York.

Amongst the 200-plus largest metropolitan areas, Greeley, Colo., had the highest foreclosure rate for the third consecutive month, with one new foreclosure filing for every 175 homes -- almost 6 times the national average, RealtyTrac said.

The second-highest metro foreclosure rate belonged to Detroit, with one new filing for every 196 properties, followed by Modesto, Calif.'s rate of one new filing for every 214 homes, according to the announcement.

RealtyTrac says it publishes "the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 properties from nearly 2,500 counties across the country."


SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders