N.C. foreclosures drop in August - The Business Journal of the Greater Triad Area
North Carolina’s residential foreclosures in August fell 0.9 percent from July but are up more than 12 percent from a year ago.
Some 4,844 N.C. homes were in the foreclosure process in August, or one of every 867 households. The state ranks 35th in the nation for rate of filings, according to RealtyTrac Inc.
Foreclosures in the state rose 12.2 percent from August of last year.
Last month’s foreclosures nationwide increased 4 percent from July but dropped 5 percent from August 2009. One in every 381 U.S. households received a foreclosure filing last month.
“The trend lines of decreasing default notices and increasing bank repossessions converged in August, with virtually the same number of new default notices and bank repossessions for the month — a clear indication that the clogged foreclosure pipeline is being carefully managed on both ends by lenders and servicers,” says James Saccacio, chief executive at RealtyTrac.
Nevada, for the 44th consecutive month, had the country’s highest foreclosure rate, with one of every 84 homes receiving a foreclosure filing. The state had 13,385 residential properties in foreclosure in August.
Vermont had the lowest foreclosure rate, with a total of 17 filings.
Read more: N.C. foreclosures drop in August - The Business Journal of the Greater Triad Area
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