Realty Trac, Inc. reported that default notices increased 10% in October as compared to September and rose to an 11 month high in states where foreclosures must be processed through the court system. Nationally, auction notices increased 8% and home seizures jumped 4%. Nationally foreclosure filings increased 7% to a seven-month high in October after a year-long slowdown due to the robo-signing scandal.
Over a quarter of one million properties received default notices, auction, or repossession notices in October. The number of notices was actually down 31% from a year ago as one year ago was when the complaints started being raised about the foreclosure process and faulty/forged documentation. Realty Trac also estimated that the nation's housing market may need as long as 40 months to clear all of the distressed sales.
If you need help with your property tax appeal please visit www.fairassessments.com and contact us for your Fair Assessment.
Over a quarter of one million properties received default notices, auction, or repossession notices in October. The number of notices was actually down 31% from a year ago as one year ago was when the complaints started being raised about the foreclosure process and faulty/forged documentation. Realty Trac also estimated that the nation's housing market may need as long as 40 months to clear all of the distressed sales.
If you need help with your property tax appeal please visit www.fairassessments.com and contact us for your Fair Assessment.
