Foreclosures Up as Outside Influences Sway Data

Foreclosure numbers were up last month, according to RealtyTrac, but uncovering what the numbers really indicate is becoming more and more difficult, according to Mortgage News Daily reporter Jann Swanson. “Basic numbers of foreclosure related filings are getting more and more conflated by local situations such as the type of foreclosure process followed in a particular state, new consumer laws, and now the impact of Hurricane Sandy,” the impact of which will be felt for months, Swanson wrote in an article discussing RealtyTrac’s report. Overall, default notices and scheduled auctions were up 2% compared with the previous month but down 19% year-over-year. Repossessions were down less than 1% on a monthly basis but dropped 21% compared with the previous year. See the full report from Mortgage News Daily here.