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Foreclosure Starts Seek New Floor
Friday, September 18, 2015
Foreclosure activity in the U.S.
declined on a year-over-year basis for the first time in six months. RealtyTrac said today that there were a total
of 109,561 foreclosure filings (default
notices, scheduled auctions and bank repossessions or completed foreclosures) nationwide
in August. This was a -12 percent change
from July and -6 percent from August 2014 and followed five consecutive months
in which foreclosure filings exceeded those of a year earlier. The filing rate equated to one in every 1,205
U.S. households.
The decrease in filings came
mainly at the front end of the foreclosure process with foreclosure starts
falling to their lowest level since almost three years before the more or less
official start of the housing crisis. The 45,072 starts in August was a 1
percent reduction from the July number and 19 percent below a year earlier.
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