Short Sale Pros - Negotiating Short Sales at No Cost to Homeowner, Realtor or Investor » 1 million bank repossessions http://blog.shortsalepros.com Leave the hard work to us TM Tue, 10 Jan 2012 03:42:29 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Foreclosure rates surge nationwide http://blog.shortsalepros.com/foreclosure-rates-surge-nationwide/ http://blog.shortsalepros.com/foreclosure-rates-surge-nationwide/#comments Thu, 15 Apr 2010 19:08:26 +0000 admin http://blog.shortsalepros.com/?p=560 RealtyTrac said today that the number of U.S. homes taken over by banks jumped 35 percent in the first quarter from a year ago. In addition, households facing foreclosure grew 16 percent in the same period and 7 percent from the last three months of 2009.

A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report.

More homes were taken over by banks and scheduled for a foreclosure sale than in any quarter going back to at least January 2005, when RealtyTrac began reporting the data.

“We’re right now on pace to see more than 1 million bank repossessions this year,” said Rick Sharga, a RealtyTrac senior vice president.

California accounted for the biggest slice overall of homes facing foreclosure — roughly 23 percent of the nation’s total. One in every 62 properties received a foreclosure filing in the first quarter.

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