Foreclosure Activity Rises 5 Percent in January: RealtyTrac

admin Geopolitics, Government, Real Estate

The number of U.S. properties in foreclosure upon rose 5 percent in January, driven by a jump in bank repossessions, real estate data firm RealtyTrac said on Thursday.
A total of 37,292 homes were repossessed in January, a 15-month high. Overall, 119,888 properties were at some stage of the foreclosure process, still down 4 percent from a year earlier.
The unwinding of distressed housing assets, a multi-year legal process in many states, was gathering pace, RealtyTrac said.
A nationwide increase in scheduled foreclosure auctions in 21 states in January reflected that they were "coming off somewhat artificially low levels last year," RealtyTrac Vice President Daren Blomquist said in a statement.

This post was published at Newsmax

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