Foreclosures up in third quarter nationwide

October 23, 2008 11:08AM

Third quarter foreclosures increased 71 percent nationwide from the same period
last
year, and 3 percent from the second quarter this year, according to the
data firm RealtyTrac. Foreclosures dropped, however, 12 percent between
August and September,
which RealtyTrac CEO James Saccacio attributes to new state laws
that are slowing down the pace at which lenders are moving forward with
foreclosures. Foreclosure filings, which include default notices,
auction sale
notices and bank repossessions, were recorded in one out of every 475
homes
nationwide last month.


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