“More U.S. homes are entering the foreclosure process, but they're taking ever longer to get sold or repossessed by lenders.
The number of U.S. homes that received a first-time default notice during the July to September quarter increased 14 percent compared to the second quarter of the year, RealtyTrac Inc. said Thursday.
That increase signals banks are moving more aggressively now against borrowers who have fallen behind on their mortgage payments than they have since industrywide foreclosure processing problems emerged last fall. Those problems resulted in a sharp drop in foreclosure activity this year.
The surge in default notices means homeowners who haven't kept up their mortgage payments could now end up on the foreclosure path sooner…”
More information can be found on NBC, msnbc.com:
http://www.msnbc.msn.com/id/44885991/ns=business-real_estate
Marc White
Accredited Buyer's Representative (ABR), ePro, GREEN, GRI, zPro
Broker/REALTOR, Cash Realty & Construction
Top Listing Agent for 2009 & 2010
Cell/Direct 828-406-2134
Marc@CarolinasPremierRealty.com
Search 1,000s of Homes Instantly at www.MarcWhiteHomes.com
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