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IRVINE, CA—A slight rise in US residentialforeclosure filings for the first time in threeyears indicates that lenders are pushing through lingeringnon-performing loans, says RealtyTrac's VPDaren Blomquist in a new report. The firm says foreclosure filings wereup in the third quarter .42% from the previous quarter—the firstquarterly increase since the third quarter of 2011—although thisfigure was down 16% from a year ago.
The quarterly increase in overall foreclosure activity wasdriven by a 2% increase in default notices and a 7% quarterlyincrease in scheduled foreclosure auctions, RealtyTrac reports.Meanwhile, bank repossessionsdecreased 12% from the previous quarter.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
