Thread: Foreclosure Activity Hits Record 932,234 properties 1st QTR

Thursday, April 15, 2010

Foreclosure Activity Hits Record 932,234 properties in First Quarter; Defaults Rise In Loan Modification Program; Statistical Nonsense on "Help"

Foreclosure activity of all types spiked in the first quarter of 2010 according to RealtyTrac. Activity is now at an all time record of 932,234 properties. Please consider Foreclosure Activity Increases 7 Percent in First Quarter. http://www.realtytrac.com/contentmanage ... temid=8927

April 15, 2010 — RealtyTrac®, the leading online marketplace for foreclosure properties, today released its U.S. Foreclosure Market Report™ for Q1 2010, which shows that foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 932,234 properties in the first quarter, a 7 percent increase from the previous quarter and a 16 percent increase from the first quarter of 2009. One in every 138 U.S. housing units received a foreclosure filing during the quarter.

Foreclosure filings were reported on 367,056 properties in March, an increase of nearly 19 percent from the previous month, an increase of nearly 8 percent from March 2009 and the highest monthly total since RealtyTrac began issuing its report in January 2005.

“Foreclosure activity in the first quarter of 2010 followed a very similar pattern to what we saw in the first quarter of 2009: a shallow trough in January and February followed by a substantial spike in March,â€

Economists said this year would be just as bad or worse then last years foreclosures.