IRVINE, Calif. – Aug. 11, 2011 — RealtyTrac® (www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its U.S. Foreclosure Market Report™ for July 2011, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 212,764 U.S. properties in July, a 4 percent decrease from June and a 35 percent decrease from July 2010.
The report also shows one in every 611 U.S. housing units with a foreclosure filing during the month of July.
“July foreclosure activity dropped 35 percent from a year ago, marking the 10th straight month of year-over-year decreases in foreclosure activity and the lowest monthly total since November 2007,” said James J. Saccacio (top right photo), chief executive officer of RealtyTrac.
“This string of decreases was initially triggered by the robo-signing controversy back in October 2010, which forced lenders to substantially slow the pace of foreclosing, but the downward trend in foreclosure activity has now taken on a life of its own.
“It appears that the foreclosure processing delays, combined with the smorgasbord of national and state-level foreclosure prevention efforts — including loan modifications, lender-borrower mediations and mortgage payment assistance for the unemployed — may be allowing more distressed homeowners to stave off foreclosure.”
For a complete copy of RealtyTrac’s report, along with statistical data, please contact:
Christine Stricker
949.502.8300, ext. 268
Michelle Schneider
949.502.8300, ext. 139
No comments:
Post a Comment