Homes Lost to Foreclosure Rose 9% in July

The number of homeowners who lost their properties to foreclosure jumped 9% in July as lenders moved to repossess a glut of homes with past-due mortgages.

A total of 92,858 homes were repossessed in July, according to foreclosure listing firm RealtyTrac. That’s 9% higher than in June and 6% higher than the figure for July 2009. July was the eighth straight month to post a year-on-year rise in homes lost to foreclosure.

And foreclosure filings, a category that includes default notices, scheduled actions and bank repossessions, hit 325,229 in July. That’s a 4% increase from June, but notably, it’s a 10% drop from July 2009.

“July marked the 17th consecutive month with a foreclosure activity total exceeding 300,000,” said James J. Saccacio, CEO of RealtyTrac. “Declines in new default notices, which were down on a year-over-year basis for the sixth straight month in July, have been offset by near-record levels of bank repossessions.”

Nevada had the highest foreclosure rate among all states, with one in every 82 households receiving a foreclosure filing.

California had the highest percentage of the total foreclosures filings, accounting for 21% of the nation’s filings.

Are you or someone you know behind on your mortgage payments and don’t know what to do or what your options are?

Don’t let the bank Foreclose on your home! I can help you, contact me before its too late! I will sit down with you and explain your options, you don’t have to go through this alone.

Call me directly at (626) 252-0839 or email me at .


Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s