Homes in foreclosure set another monthly record in March with completed foreclosures reaching 175,199 homes, this is up 44 percent from February’s previous record high. This is according to Foreclosures.com, one of the top real estate information providers.
Foreclosed properties were up severely from 121,756 in February. nearly 370,000 properties were repossessed by lenders in 2009. Eighteen point three out of every thousand homes were repossessed, that is up over 38 percent from 266,986 in the fourth quarter of 2008, the U.S. Foreclosure Index showed, and up 76 percent from 210,280 in the first quarter of 2008.
The beginning of 2009 was even more devastating. The first-quarter total is the highest quarterly total of completed foreclosures since the beginning of the foreclosure disaster . Pre-foreclosure filings topped 600,000 for the first time. Pre-foreclosure filings could lead up to a completed foreclosure.
Hans Anderson
