October foreclosures down in Collier, up in Lee

Overall, foreclosure activity slowed in Collier County in October, while increasing a bit in Lee County.

There were 430 foreclosure-related filings last month in Collier, down more than 27 percent from September and more than 26 percent from a year ago, according to Irvine, Calif.-based RealtyTrac Inc.

In Lee, there were 997 foreclosure-related filings in October, up 2.57 percent from September, but down more than 48 percent from a year ago.

The report is based on three types of filings: default notices, scheduled auctions and bank repossessions.

Nationally, U.S homes are entering the foreclosure process at a slower pace than a year ago, and fewer properties are being repossessed by lenders, RealtyTrac reported.

From January to October, 971,533 homes were placed on the path to foreclosure, down 8 percent from the same period last year, RealtyTrac Inc. sai.

At the other end of the foreclosure process, banks repossessed 559,063 homes through the end of last month, a decline of nearly 19 percent from a year earlier.

That puts lenders on pace to complete 650,000 foreclosures this year, down from 800,000 in 2011, the firm said.

© 2012 marconews.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Discuss
  • Print

Related Stories

Comments » 0

Be the first to post a comment!

Share your thoughts

Comments are the sole responsibility of the person posting them. You agree not to post comments that are off topic, defamatory, obscene, abusive, threatening or an invasion of privacy. Violators may be banned. Click here for our full user agreement.

Comments can be shared on Facebook and Yahoo!. Add both options by connecting your profiles.