October 10, 2013; Stateline
The economy is on the upswing, right? The housing market has turned around, right?
Not as indicated by the latest data on bank repossessions of foreclosed homes. While homes entering the foreclosure process are down nationally to their lowest level in seven years, foreclosures are up significantly in Maryland and Oregon. Nationally, repossessions rose seven percent in the third quarter, as compared to the previous quarter nationally, with significant increases in Kentucky and New York. Compared to the third quarter of last year, bank repossessions are up significantly in New York, New Jersey, Illinois, Virginia, Connecticut, and Indiana.
Sometimes, these percent