The Repo Man Is Still Taking Our Houses
Home repossessions are up in half the states.
Florida still leads the country in overall foreclosure activity, but Maryland and Oregon experienced dramatic increases in foreclosure starts in recent months. Meanwhile, bank repossessions climbed significantly in Kentucky and New York.
The number of U.S. homes entering the foreclosure process hit a seven-year low between July and September, but bank repossessions were up 7 percent from the previous quarter, with Kentucky seeing the biggest jump, up nearly 70 percent, new data show.
Even with its sharp increase in repossessions, Kentucky’s overall foreclosure rate—which includes default notices, scheduled auctions and bank repossessions—ranked 36th among the states in the third quarter, according to a new data released Thursday (Oct. 10) from RealtyTrac, which follows real estate trends.
Join the Discussion
After you comment, click Post. You can enter an anonymous Display Name or connect to a social profile.
LATEST FINANCE HEADLINES
To Keep Drug Prices Down, States May Pay Based on Effectiveness4 hours ago
After Raising Taxes Twice to Hire More Cops, Indianapolis Has Fewer Than Before2 days ago
Tiny, Mayorless Ohio Town Deemed 'Unauditable'2 days ago
The Week in Public Finance: Troublesome Sports Arenas, Buying Muni Bonds and California's Tenuous Recovery2 days ago
In Cash-Strapped States, Voters Could Protect Transportation Funds2 days ago
Court: Kentucky Governor Lacks Authority to Cut Universities' Funding3 days ago