Industry NewsMarkets & Economy

REOs fall amid ‘robo-signing’ stall

RealtyTrac: Overall foreclosure activity flat from October 2009
Published on Nov 10, 2010

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

After hitting a record high in September, bank repossessions fell 9 percent in October -- likely the result of foreclosure freezes by some major lenders, according to a report by foreclosure data site RealtyTrac.

Total foreclosure activity in October -- default notices, scheduled auctions, and bank repossessions -- fell 4.4 percent from September, though remained essentially flat from October 2009. A total of 332,172 properties received a foreclosure filing last month -- one in every 389 housing units.

"October marks the 20th consecutive month where over 300, ...