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.

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