Foreclosures rose in October

The number of foreclosures climbed in October, as mortgage lenders begin to make their way through the paperwork problems that had delayed new filings for much of the last year.

November 18, 2011
foreclosures, housing market, mortgage, financing

The number of foreclosures climbed in October, as mortgage lenders begin to make their way through the paperwork problems that had delayed new filings for much of the last year, according to CNN Money.

Foreclosure filings were reported on 230,678 properties nationwide in October, a 7 percent increase from September, reported RealtyTrac. Despite the increase, filings were still 31 percent below year-earlier levels, though.

RealtyTrac said one in every 563 U.S. homes had either a default notice, a scheduled auction or a bank repossession filing during the month.

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