Foreclosures On The Rise Once Again

Foreclosures jumped 7% from September to October, as foreclosure filings were reported on 230,678 properties last month, according to RealtyTrac, an online marketplace for foreclosed properties (via CNNMoney). According to RealtyTrac, one in every 563 U.S. homes either had a default notice, a schedule auciton, or a bank repossession during the month. Despite the news, the filings were still 31% lower than last year’s numbers at this time. The states with the highest foreclosure rates during October were Nevada, California, Arizona, Florida and Michigan, as these states combined for 53% of the national total, according to the article. To read this CNNMoney article, click here.