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October Saw Double Digit Increases In Foreclosure Filings

A surge in scheduled auctions sent the
overall rate of foreclosure activity surging in October. In its U.S.
Foreclosure Market Report released on Thursday RealtyTrac reported that auctions
were scheduled for the first time on 59,869 U.S. properties during the month,
the largest number of such filings since May 2013.  This represented an increase of 24 percent
from the number of such filings in September and a 7 percent increase from the
previous October.

The increase occurred in both judicial
foreclosure states, a jump of 21 percent month-over-month and an increase of  3 percent from the previous October, and in
non-judicial states where there were 27 percent more auctions scheduled than in
September and a year over year change of +14 percent. To put things in
perspective, however during one month in the spring of 2010 there were 160,000
auctions scheduled. 

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