Foreclosure activity increased 7% in August over the prior month – but was down 33% compared to the same month a year ago, according to new figures compiled by RealtyTrac.  

“The big increase in new foreclosure actions may be a signal that lenders are starting to push through some of the foreclosures delayed by robosigning and other documentation problems,” said James Sacaccio, CEO of RealtyTrac, Irvine, Calif. “It also foreshadows more bank repossessions in the coming months as these new foreclosures make their way through the process.”

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.