Record Seizures
Full national data reflecting the effect of the foreclosure freeze isn’t yet available. Lenders took over a record 102,134 properties last month, before most of the delays, RealtyTrac, an Irvine, California-based real estate data provider, reported.
Nevada, Arizona, Florida and California lead the nation in foreclosure rates, according to RealtyTrac. Florida is the only one of those states where courts supervise home seizures, the focus of most of the banks’ reviews.
Bank-owned properties have been pulled off the market in Florida and re-sales of foreclosed homes have stalled in the process of closing, according to Shuffield. One in 56 homes in the state received a foreclosure filing notice in the third quarter, RealtyTrac data show.
Living in Hotel
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