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Story Archives: Foreclosure trend not over
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Foreclosure trend not over
For months I have been reading that there was a new wave of home foreclosures on the horizon. We have been fortunate in this area to have seen less home foreclosures than most other areas of the country.
However, the indicators are pointing toward more foreclosures around the corner. Foreclosure filings which include default notices, scheduled auctions and bank repossessions were up 9 percent in May over the previous month nationwide. This is the first monthly increase since January according to a Realty Trac Report.
This may be the result of a $25 billion settlement in April between the nation's five largest banks and attorney generals from several states with the banks waiting for results before proceeding to take foreclosure action.
.....For the full story, subscribe to the The Ouachita Citizen's NEW E-Edition!
Bill Roark is a Commercial Associate Broker at Keller Williams Realty and may be contacted at bill_roark1@yahoo.com. |
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