David Kirkpatrick

August 12, 2010

Foreclosures still a problem

Filed under: Business — Tags: , , , , — David Kirkpatrick @ 3:04 pm

To join my previous post on the sluggish nature of the current economic recovery, here’s more dark gray news on foreclosures

From the link:

The latest foreclosure numbers carried a mixed message: They’re up 3.6% from the month before but down 9.7% from 12 months earlier.

In July there were more than 325,000 foreclosure filings — including notices of default, auctions notices and bank repossessions. That is the 17th month in a row total filings exceeded 300,000, said RealtyTrac’s CEO, James Saccacio.

“Declines in new default notices, which were down on a year-over-year basis for the sixth straight month in July,” he said, “have been offset by near-record levels of bank repossessions, which increased on a year-over-year basis for the eighth straight month.”

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