Foreclosures Jump in September

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RealtyTrac (aff.)today announced in their monthly foreclosure report that 112,210 properties were entering some stage of foreclosure in September. According to the ForeclosurePulse Blog, that number represents “a decrease of less than 1 percent from August but an increase of more than 63 percent from September 2005.

September’s foreclosure rate of one new foreclosure filing for every 1,030 households was the third highest monthly foreclosure rate year to date, behind only the foreclosure rates reported in August and February.”

According to James J. Saccacio, CEO of RealtyTrac. “Foreclosure filings are up 39 percent year to date and have already have surpassed the total number reported in all of 2005. If they continue at the current pace, foreclosures will exceed the 1.2 million mark by the end of the year.”

Thanks to Octavio at RealtyTrac for letting us know about the new report!

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Joshua Dorkin

Joshua Dorkin (@jrdorkin, Google+) founded when he saw a need for free, trustworthy information about real estate investing online. Over the past 12 years, Josh has grown the site from self-funded hobby to full-time job and passion. Today, BiggerPockets brings together over 850,000 members, housing the world’s largest library of real estate content, iTunes’ #1 real estate podcast, and an array of analysis tools, all geared toward helping users succeed.

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