Despite Overall Decline, Foreclosures Increasing In Judicial States

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Posted To: MND NewsWire

Foreclosure filings fell 5 percent in April from the March levels and were down 23 percent from April 2012 RealtyTrac said today. Default notices scheduled auctions and bank repossessions were filed against a total of 144,790 U.S properties during the month compared to 152,500 in March and 188,780 in April 2012. RealtyTrac said that foreclosure filings in April which equated to a filing for every 905 housing units, were the fewest since February 2007. RealtyTrac noted that scheduled foreclosure auctions have begun to pick up in judicial foreclosure states . The court involvement required in judicial foreclosures have caused huge backlogs in these states and foreclosure timelines that are now stretching into four and five years in some cases. Scheduled foreclosure auctions increased 22 percent...(read more)

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Source: http://www.mortgagenewsdaily.com/05092013_realty_trac_foreclosures.asp

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