U.S. Foreclosure Filings Hit Record for Second Month – Bloomberg.com

While price declines are slowing, it’s likely bank seizures will increase in the coming months, RealtyTrac Chief Executive Officer James Saccacio said.

“Lenders and servicers are beginning foreclosure proceedings on delinquent loans that had been delayed by legislative and industry moratoria,” Saccacio said.

California was No. 1 in April with 96,560 foreclosure filings, a 42 percent increase from a year earlier, RealtyTrac reported. Florida climbed 75 percent to 64,588, Nevada rose 111 percent to 16,266 and Arizona rose 40 percent to 16,245. Read Full Article

Posted by Eureka Expert on May 14 2009. Filed under Foreclosures, Housing. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry