Foreclosures Rise from 6yr Low
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Foreclosures Are Up
Foreclosure activity accelerated in July [highlight bg=”#fc0″ color=”#000″]rising off of the 78 month low[/highlight] it reached in June, RealtyTrac said today. There were 130,888 foreclosure filings – including default notices, scheduled auctions, and bank repossessions – in June, the Irvine, California company reported, a 2 percent increase from the previous month but a level 32 percent below that in July 2012. One in every 1.

[note color=”#ffffff”]This news is not the forecaster of bad news- rather its just catch up time. In certain states like ca, regulations prevented foreclosures from being completed. In other states it was the way they do foreclosures, requiring a court action.[/note] [note color=”#f6e6b6″]Florida leads in foreclosure activity- mainly because of the fact that it requires a judicial foreclosure. . Courts there have been backlogged but are finally catching up.. There have been month-over- month increases in foreclosure filings in the state for 16 of the last 19 months and it is the number one state for foreclosure activity for the third consecutive month with a filing rate three times the national average. Foreclosure starts decreased 28 percent from a year ago but scheduled auctions were up 74 percent and completed foreclosures 13 percent on an annual basis.[/note] [note color=”#ffffff”]I am in the middle of one in Fla and know this first hand. We have been dealing with the bank on my mom’s condo for 2 years. They started the foreclosure finally last oct . We finally have a WRITTEN acceptance of a short sale and are supposed to close at the end of the month.[/note]


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