Foreclosures Way Up In November
Lenders foreclosed on 70 percent more properties in November compared to a year ago, but foreclosure activity is still down on the year overall, according to The Warren Group.
It was the second consecutive month of year-over-year increases after a full year of declines.
Lenders recorded 714 foreclosure deeds during the month compared to 418 in November 2010. A total of 7,685 foreclosure deeds have been completed in 2011, down nearly 35 percent from 11,752 during the same period last year.
Meanwhile, lenders filed 1,015 foreclosure petitions last month, down 8 percent from last year.
Warren Group CEO Timothy Warren Jr. said lenders seem to have improved their paperwork processing efficiencies after a long slowdown. He also said an improving employment picture could be leading to fewer delinquencies.
WBJ Web Partners
Most Recent
Most Recent
0 Comments