U.S. foreclosure filings rise in 6% in February

March 12, 2009 by · Leave a Comment
Filed under: Real Estate News 

 

U.S. home foreclosure activity resumed its upturn in February after a brief dip, despite numerous programs meant to quell the record pace of failing mortgages, RealtyTrac reported on Thursday.

 

Filings, which include notice of default, auction sale or bank repossession, rose 6 percent in February after slipping 10 percent in January, and leaped 30 percent from a year ago, the Irvine, California-based real estate data firm said.

One in every 440 households with loans drew a filing last month, RealtyTrac said. Nearly 291,000 properties in the U.S. got a foreclosure filing in February, the third highest monthly total since RealtyTrac began tracking the data in January 2005.

 

“The rate of foreclosure activity is increasing beyond the ability of even these types of moratoria to slow down,” Rick Sharga, senior vice president at RealtyTrac, said in an interview, referring to major state and corporate moratoriums on foreclosures.

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