Foreclosure Update
October 15th, 2008 categories: Buyer's Advice, Real Estate New, Seller's Advice
16,352 Notices of Default were filed in September, down from 42,790 in August, a decrease of 61.8% from August 2008, and a decrease of 36.4% from a year earlier.
Notices of Trustee Sale:
Filings decreased 47.3% from August to a total of 19,116 filings.
Filings increased 33.9% from September 2007.
Properties sold at auction increased 163.2% from the prior year, to 23,409 sales with a combined loan balance of $9.75 Billion. A 12.4% drop from August 2008
Lenders took back 95% of the properties taken to auction, with a combined loan value of $9.19 Billion. 5% probably taken at the Court house Steps.
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