NC Foreclosures Up 40% Year-Over-Year (excerpt) 

 November 11, 2010

By  Nancy Braun

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.

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.

“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.

Nancy Braun

Call me, Nancy Braun, at (704) 997-3794. Let’s talk about your needs and wants in a home.

Nancy Braun

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  1. Great article as always, Sean. But the truth is, the government has been intricately involved in the real estate industry for many decades. Social policy implemented by the government has included the mortgage interest deduction and many other rules and tax breaks. I can’t imagine that ending in the near future, nor would I be in favor of it.

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