More may be moving due to foreclosure

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More may be moving due to foreclosure

September 17, 2010 - Bank repossessions are at an all-time high, meaning more homeowners are relocating due to foreclosure.

The latest foreclosure report from RealtyTrac showed that lenders took back 95,364 homes in August, the highest monthly total ever recorded in their report. Bank repossessions were up 3 percent from the previous month and 25 percent on a year-to-year basis, making nine straight months of increasing year-over-year REOs.

Foreclosure activity continues to hound Nevada. With one in every 84 homes there receiving a foreclosure filing last month, the state has posted the country's highest foreclosure rating for 44 straight months. On the other hand, August brought a 25 percent year-over-year decrease in foreclosure activity in Nevada - a trend that has held up for 11 straight months.

Nationally, foreclosure filings increased 4 percent from the previous month but were down 5 percent year-over-year, said RealtyTrac. Company CEO James Saccacio said that lenders are doing a good job managing an overwhelming home inventory.

Though foreclosures can drain the home values of surrounding properties, they can also present an intriguing buying opportunity for relocating families. Some buyers nationwide are moving into significantly discounted homes by participating in foreclosure auctions.

Recent Articles

Actor Hayden Christensen selling Studio City pad

Star Wars fans may be surprised to hear Anakin Skywalker, also known as actor Hayden Christensen, may be calling for a moving company and selling his house in Studio City.

Friday, October 05 2012 15:15

Former pro baseball player Reggie Sanders selling SC beach house

Reggie Sanders list of properties is almost as extensive as his list of teams, however, he appears to be unloading homes across the country.

Thursday, October 04 2012 13:25

Hollywood couple John Krasinski and Emily Blunt buy in LA

Celebrity news sites report actor John Krasinski and actress Emily Blunt may be comparing prices of moving companies around Los Angeles, as they have purchased a home in the affluent city of Ojai.

Wednesday, October 03 2012 13:25

Tips for prepping to move cross-country

When relocating across the country, those moving may need to take some extra steps for a more successful relocation.

Wednesday, October 03 2012 13:24

Singer Sheryl Crow moving out of Hollywood Hills home

The Grammy-winning singer Sheryl Crow has been buying and selling homes throughout the country, as she currently owns a waterfront home in Florida and recently purchased a large ranch-style home in Nashville, Tennessee, just last year.

Wednesday, October 03 2012 13:22

Related Categories

Foreclosures News

Prince's Minnesota estate now off the market
Updating a recent story, Prince's estate in Chanhassen, Minnesota, is no longer on the market. It had originally been listed as available at an upcoming auction due to mortgage payment failures.

Wednesday, April 27 2011 11:15

Soon to be the property formely known as Prince's?
According to the Star Tribune, Prince's property in Chanhassen, Minnesota, has entered into foreclosure, as the musician still owes roughly $368,000 on his mortgage.

Friday, April 22 2011 12:21

Some celebs' homes in danger to foreclose
Even some of the world's rich and famous aren't immune from the effects of foreclosure, and several have found themselves moving out of home after falling into mortgage issues.

Friday, March 25 2011 11:33

Builders highlighting risks of foreclosed properties
Homebuyers have been seeking out low-priced foreclosures and short sales when moving to a new home, a problem many homebuilders are now tackling through new promotional strategies.

Thursday, March 10 2011 10:19

Foreclosure sales prevalent in Western U.S.
A new report on foreclosure data from around the country showed a high number of consumers in western states were moving to distressed properties in 2010.

Tuesday, March 01 2011 10:56

Moving News

Hollywood couple John Krasinski and Emily Blunt buy in LA
Celebrity news sites report actor John Krasinski and actress Emily Blunt may be comparing prices of moving companies around Los Angeles, as they have purchased a home in the affluent city of Ojai.

Wednesday, October 03 2012 13:25

Tips for prepping to move cross-country
When relocating across the country, those moving may need to take some extra steps for a more successful relocation.

Wednesday, October 03 2012 13:24

Oscar winner Hilary Swank selling Pacific Palisades property
West Coast fans of actress Hilary Swank may be sad to hear she may be calling for movers, as she her fancy home in the affluent neighborhood of Pacific Palisades has been listed for sale.

Wednesday, September 26 2012 17:49

Actress Linda Hamilton terminates mortgage for Malibu home
Hollywood actress Linda Hamilton will no longer enjoy the ocean view of her former Malibu home, as the Los Angeles Times reports she has sold it for $4 million after initially listing it for sale for $5.495 million earlier this year.

Tuesday, September 25 2012 16:39

Tips for moving appliances
When relocating, many homeowners may opt to transport their new appliances to their new home, however, this can be dangerous for the unprepared.

Monday, September 24 2012 17:25

Real Estate News

Actor Hayden Christensen selling Studio City pad
Star Wars fans may be surprised to hear Anakin Skywalker, also known as actor Hayden Christensen, may be calling for a moving company and selling his house in Studio City.

Friday, October 05 2012 15:15

Former pro baseball player Reggie Sanders selling SC beach house
Reggie Sanders list of properties is almost as extensive as his list of teams, however, he appears to be unloading homes across the country.

Thursday, October 04 2012 13:25

Singer Sheryl Crow moving out of Hollywood Hills home
The Grammy-winning singer Sheryl Crow has been buying and selling homes throughout the country, as she currently owns a waterfront home in Florida and recently purchased a large ranch-style home in Nashville, Tennessee, just last year.

Wednesday, October 03 2012 13:22

Actor Christopher Meloni buys home in Connecticut
Celebrity news site Curbed reports former Law and Order star Christopher Meloni may be calling for movers as he will be relocating to Canaan, Connecticut.

Monday, October 01 2012 17:01

Former CA home of comedian Phyllis Diller up for sale
Celebrity news sites report the longtime estate of the late Phyllis Diller is ready for buyers, as it has appeared on the market with a $12.9 million asking price.

Friday, September 28 2012 17:54

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June, 2012

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