Phoenix Foreclosures: 1 in 53 Homes Received a Foreclosure Notice

From RealtyTrac: U.S. FORECLOSURE ACTIVITY INCREASES 5 PERCENT IN Q3

RealtyTrac® … today released its U.S. Foreclosure Market Report™ for Q3 2009, which shows that foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 937,840 properties in the third quarter, a 5 percent increase from the previous quarter and an increase of nearly 23 percent from Q3 2008. One in every 136 U.S. housing units received a foreclosure filing during the quarter — the highest quarterly foreclosure rate since RealtyTrac began issuing its report in the first quarter of 2005.

Foreclosure filings were reported on 343,638 properties in September, a 4 percent decrease from the previous month but a 29 percent increase from September 2008. Despite the monthly decrease, September’s total was still the third highest monthly total since the RealtyTrac report began in January 2005, behind only July and August of this year.

Arizona posted the nation’s second highest state foreclosure rate in the third quarter, with one in every 53 housing units receiving a foreclosure filing, and California posted the nation’s third highest state foreclosure rate, also with one in every 53 housing units receiving a foreclosure filing during the quarter.

If you are the 1 in 53, don’t wait any longer. Give us a call to see if there can be some relief for you. We help people everyday with Loan Modifications and Short Sales. (480) 389-5199 Let’s get a game plan together to help you get things right.