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 Real Estate Blog 
Wednesday, December 19 2012

by The KCM Crew on December 19, 2012 ·

Recent headlines have created tremendous confusion regarding the foreclosure situation in the country. Let’s give an example. Which of these two headlines are accurate?

Foreclosure Starts Plunge to 71-Month Low

Foreclosures Increase for the First Time Since 2010

The challenge is that both headlines are 100% accurate. How can foreclosures have increased for the first time in two years and, at the same time, be at a six year low? Each headline was reporting on a different measurement. Below are the explanations for each of the measurements as per RealtyTrac’s most recent Mortgage Foreclosure Report.

Foreclosure Starts

Foreclosure starts are the first steps taken by the bank after the borrower becomes delinquent on their mortgage payments (default notices or scheduled foreclosure auctions, depending on the state). They were filed for the first time on 77,494 U.S. properties in November. This was:

  • Down 13% from the previous month
  • Down 28% from November 2011
  • At the lowest level since December 2006

Foreclosures (Bank Repossessions)

[Read full article...]

Posted by: Marilee Murphy AT 09:12 am   |  Permalink   |  Email

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Marilee Murphy Associate Broker, CRS, GRI, ABR, e-Pro
REALTOR®
Long & Foster REALTORS®

Long & Foster Real Estate, Inc.

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