RealtyTrac has released its U.S. Foreclosure Market Report for November 2010, which shows foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 262,339 U.S. properties in November, a 21% decrease from the previous month and a 14% decrease from November 2009. One in every 492 U.S. housing units received a foreclosure filing during the month.
“Foreclosure activity decreased dramatically in November, with fewer than 300,000 properties receiving a foreclosure notice for the first time since February 2009,” said James J. Saccacio, chief executive officer at RealtyTrac. “While part of the decrease can be attributed to a seasonal drop of 7 to 10% that typically occurs in November, fallout from the foreclosure robo-signing controversy forced lenders and servicers to hit the pause button on many foreclosures while they scrambled to revamp their internal procedures and revise or resubmit questionable paperwork.”
Both the 21% month-over-month decrease and 14% year-over-year decrease in foreclosure activity were the highest drops recorded since RealtyTrac began publishing the U.S. Foreclosure Report in January 2005.
If you are having problems paying your mortgage, don't wait to become a foreclosure statistic. Contact me today. I am experienced in short sales and distressed properties and can give you options to foreclosure.
Joe Giancarli, SA
Real Estate Advisor
Short Sale Specialist
609-658-2612
jgiancarli@remax.net
http://www.joegiancarli.com/
http://www.njhomesource.com/
http://www.newjerseynewhomes.blogspot.com/
www.activerain.com/blogs/josephgiancarli
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment