Just when you thought foreclosure filings were stabilizing, they hit another all-time high with almost 938,000 homeowners filing in the third quarter, according to Realty Trac. This is a 5% increase from the previous quarter.
Six states account for 62% of the nations foreclosures:
California, Florida, Arizona, Nevada, Illinois and Michigan accounted for 62 percent of the nation's total foreclosure activity in the third quarter. That accounts for 579,541 properties receiving foreclosure filings in the six states combined.
Although California's foreclosure activity decreased almost 2% from Q2 there were still 250,054 properties that received a foreclosure filing. That was a 10% drop in default notices but a 4% increase in scheduled auctions and 12% increase in REOs.