Industry News

Foreclosure filings rate drops 8% in September

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Foreclosure filings nearly doubled in the past year but declined 8.4 percent in September compared to August, according to data company RealtyTrac. The company reported 223,538 foreclosure filings -- including default notices, auction sale notices and bank repossessions -- in September, which represents a national rate of one foreclosure filing for every 557 households. RealtyTrac last month reported 243,947 foreclosure filings in August, which was a record since the company began the monthly foreclosure reports in 2005 -- the September total was the second-highest on record. In August, the number of foreclosure filings was up 115 percent compared to August 2006. RealtyTrac, which supplies foreclosure data to MSN Real Estate, Yahoo Real Estate and the Wall Street Journal's Real Estate Journal, reported that Nevada had the highest foreclosure rate in the nation for the ninth month in a row. Nevada had 5,504 foreclosure filings in September, for a rate of one foreclosure filing for every...