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U.S. experiences month-to-month rise in foreclosure activity in October

On Behalf of | Nov 22, 2011 | Foreclosures

A foreclosure can be a very serious thing. Foreclosures can have significant impacts on a homeowner’s life.

Recently, the Wall Street Journal reported on some foreclosure-related statistics. The statistics are from RealtyTrac and they regard foreclosure activity in the U.S. in October 2011.

The statistics indicate that, in October 2011, foreclosure activity in the U.S. was down as compared to October 2010. Reportedly, 77,733 first-time default notices were filed in the U.S. in October 2011. This reportedly is 23 percent lower than the number of first-time default notices that were filed in the U.S. in October 2010. Meanwhile, the total number of foreclosure filings made in the U.S. in October 2011 was 230,678. This is 31 percent lower than the October 2010 total.

However, the statistics also indicate that foreclosure activity in the U.S. went up between September 2011 and October 2011. Reportedly, first-time default notices and foreclosure filings as a whole were up 10 percent and 7.4 percent respectively in October 2011 as compared to September 2011.

Thus, the statistics indicate that, while foreclosure activity was down as compared to October 2010, the U.S. did see a month-to-month increase in such activity in October 2011. Thus, it appears that foreclosure activity may be on the rise again in the United States. One wonders if the trend of month-to-month rises in foreclosure activity that the U.S. saw in October 2011 will continue in future months. One also wonders what effects this trend and its causes will have on homeowners in Florida and the rest of the nation.

Source: The Wall Street Journal, “RealtyTrac: October Foreclosure Filings Down 31%,” Nathalie Tadena, Nov. 10, 2011


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