October saw a 7% increase in the number of foreclosures from last month. It appears that many lenders, such as Bank of America and JPMorgan Chase, have corrected their paperwork and processing problems. According to RealtyTrac, one in every 563 U.S. homes had either a default notice, a scheduled auction or a bank repossession filing during the month.
5 states accounted for more than half of all the foreclosures in October: Nevada, California, Arizona, Florida & Michigan. Also of note, Las Vegas was NOT the leading city in the rate of new foreclosure filings. It is the first time in nearly 2 years that Las Vegas was not the #1 city for new filings!
Read the whole story on CNNMoney: Foreclosure on the Rise Again