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by CareyBot

Bank repossessions surged past 100,000 for the first time in September, according to a report by foreclosure data site RealtyTrac. The site tracks properties that receive foreclosure filings: default notices, scheduled auctions, and bank repossessions.A record 102,134 properties became bank-owned last month."Lenders foreclosed on a record number of properties in September and in the third quarter, taking a bite out of the backlog of distressed properties where the foreclosure process was delayed by foreclosure prevention efforts over the past 20 months," said James J. Saccacio, RealtyTrac's CEO, in a statement. Overall, 930,437 properties received foreclosure filings in the third quarter -- a 3.9 percent rise from the second quarter but a 1 percent drop compared to third-quarter ...