- More Asset-Buying Depends on Economy: BOE
- Stocks Sputter as Investors Seek Next Catalyst
- Nissan to Recall 250,000 Cars Globally
- Winners and Losers in Obama's Corporate Tax Plan
- Santorum Takes Heavy Fire in Arizona Republican Debate
- Volcker Rule Threatens Recovery: Finance Ministers
- Next Bank of England Governor: The Race is On
- Peugeot Citroen in Talks With General Motors
- HP, Dell Watch Rising China Labor Costs for Apple
- Wandering Through Toy Land
- Dell Is Done, But Don't Discount HP: Analysts
- Comcast Deal Could Spell Trouble for Netflix: Analyst
- Reading the Tea Leaves in RIM Shake-Up
- Sam Adams Brewer Crafts Beer for the Granddaddy of All Marathons
- Stocks to Give Up for Lent
- You Want Retail Customers? Give Them Deals: Analysts
- NJ Governor Chris Christie to Warren Buffett: 'Just Write a Check and Shut Up'
- 7 Undervalued IPO Stocks That Could Rebound in 2012
MOST SHARED
- RBS Records $1.2 Billion Loss After Greece Charges
- More Asset-Buying Depends on Economy: Bank of England
- Japan's Sumo Belly Flops to $50 Million Debt
- China Faces Japan-Style Stagnation Without Reform: Lawmaker
- Household Debt, Not Politics, Worry for Australia: Economist
- China Internet Firm Qihoo Says Citron Allegations False
- Break-Up, Greece Cause Huge 2011 Dexia Loss
- Japan Manufacturing Mood Dips to Levels After Quake
- Writedowns Push Deutsche Telekom Into Red
- 7 Undervalued IPO Stocks That Could Rebound in 2012
MOST POPULAR
HOT ON FACEBOOK
US Mortgage Default Notices Spike in Third Quarter
Text Size 
Bank seizures of U.S. homes fell in the third quarter but an upswing in default notices suggests foreclosures could start to rise again, a report by RealtyTrac said on Thursday.
 |
CNBC.com |
Default notices were filed on 195,878 properties in the third quarter, jumping 14 percent from the previous quarter and the first increase in five quarters.
Notices were down 27 percent from the same time a year ago.
Foreclosures fell 4 percent to 196,530 homes and were down 32 percent from the third quarter 2010.
Even so, some states saw significant increases, including Massachusetts, which surged 62 percent from the second quarter.
Foreclosure activity was halted temporarily late last year due to claims that lenders relied on "robo-signing," where documents were signed without reviewing the case files.
"The trend to me shows the front end is now starting to flow a little bit," said RealtyTrac chief executive James Saccacio.
"I would venture to say the new loans that will go into foreclosure should clear quicker because you've got now the correct paperwork." Total foreclosure filings — which include default notices, scheduled auctions and bank repossessions — were up 0.3 percent from the previous quarter and down 34 percent from a year ago.
For September, default notices fell 10 percent to 70,710 after hitting a nine-month high in August.
Foreclosures last month totaled 65,047 homes, edging up 0.4 percent from August.
Nevada had the country's highest foreclosure rate last quarter, with one in every 44 homes with a foreclosure filing.
While foreclosures in Nevada decreased from the second quarter, default notices jumped more than 15 percent.
- The economy is heating up but the Fed isn’t letting up. How do you play the fixed-income market?
- With its rich oil reserves and rampant corruption, Azerbaijan poses a dilemma for U.S. policy makers.
- Business owners should occasionally consider giving their work for free. Here are several reasons why.
- GOP Governor Chris Christie wants Warren Buffett to stop talking about higher taxes on the super-rich.
- There’s a shortage of hotel rooms in London for the Olympics, so many locals are renting out their opulent private homes.
- Boston Beer will be creating a special commemorative brew, the Samuel Adams Boston 26.2, to mark this year's Boston Marathon.
Data is a real-time snapshot *Data is delayed at least 15 minutes
