The Real Deal Miami

U.S. home foreclosures climb in Q3: report

December 29, 2010 03:29PM

U.S. foreclosures increased during the third quarter of 2010, reflecting the large number of seriously delinquent borrowers moving through the foreclosure process after servicers exhausted home retention options, according to a quarterly report released today by the Office of the Comptroller of the Currency and Office of Thrift Supervision. The number of new foreclosures increased to more than 382,000 — 31.2 percent more than in the previous quarter and 3.7 percent more than a year earlier. The number of foreclosures in process climbed to 1.2 million — 4.5 percent more than in the previous quarter and 10.1 percent more than a year earlier. Finally, the number of completed foreclosures also increased to nearly 187,000 — 14.7 percent more than in the previous quarter and 57.5 percent more than a year earlier. TRD