Foreclosures ‘boil over’ in judicial foreclosure states

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Foreclosure-related filings were down sharply from a year ago nationwide in August despite an increase in foreclosure activity in 20 states, particularly in states where courts handle the foreclosure process, including New Jersey, New York, Maryland, Illinois and Pennsylvania. According to the latest numbers from data aggregator RealtyTrac, 193,508 homes were hit with foreclosure-related filings last month, including notices of default, auction notices and bank repossessions. That's an increase of 1 percent from July, but a 15 percent decrease from a year ago.Foreclosure starts were up 1 percent from July to August, with 99,405 homes entering the foreclosure pipeline, down 13 percent from a year ago. Bank repossessions were also down on a year-over-year basis for the 22nd month in a row, RealtyTrac said. Lenders repossessed 52,380 homes in August, down 2 percent from July and 6 percent from a year ago.Source: RealtyTrac Bucking the national trend, foreclosure-related filings &q...