North Carolina’s residential foreclosures in October rose 40 percent from a year ago and were up nearly 13 percent from September.

Some 4,818 N.C. homes were in the foreclosure process in October, or one of every 872 households, according to RealtyTrac Inc. The state ranks 31st in the nation for rate of filings, the firm says. For the reasons a research firm thinks homes are currently undervalued by 14 to 17 percent, click here.

Foreclosures nationwide in October fell .04 percent from a year ago and 4.4 percent from September. One in every 389 U.S. households received a foreclosure filing last month.

Nationwide, foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 332,172 properties last month.

Realty Trac says October marks the 20th consecutive month where more than 300,000 U.S. homeowners received a foreclosure notice. Read on to find out why Citi’s foreclosure alternative lets homeowners remain in their homes for up to six months. https://shortsaleadvisors.us/citis-foreclosure-alternative-allows-homeowners-to-stay-for-six-months/

“The numbers probably would have been higher except for the fallout from the recent ‘robo-signing’ controversy,” says James Saccacio, chief executive at RealtyTrac.

In October, several large banks declared temporary moratoriums on residential foreclosures amid mounting criticism over processes to speed completion of the documentation needed to recover possession of homes from delinquent borrowers.

Read more: N.C. foreclosures up 40% year-over-year | Charlotte Business Journal

(Published in The Charlotte Business Journal, November 11, 2010)

To speak with a certified Realtor in the Charlotte, NC area who specializes in foreclosures, click here.