Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Foreclosures rise in July

By Les Christie, staff writer


NEW YORK (CNNMoney.com) -- The latest foreclosure numbers carried a mixed message: They're up 3.6% from the month before but down 9.7% from 12 months earlier.

In July there were more than 325,000 foreclosure filings -- including notices of default, auctions notices and bank repossessions. That is the 17th month in a row total filings exceeded 300,000, said RealtyTrac's CEO, James Saccacio.

"Declines in new default notices, which were down on a year-over-year basis for the sixth straight month in July," he said, "have been offset by near-record levels of bank repossessions, which increased on a year-over-year basis for the eighth straight month."

A near record number of people lost their homes to mortgage payment problems in July. Lender repossessions amounted to 92,858 homes, the second highest monthly total ever behind the 93,777 recorded this May.

Repossession is the final stage in the foreclosure process. People can stay in thier homes until the point that the bank takes posession of the home or sells it at auction. To top of page


Overnight Avg Rate Latest Change Last Week
30 yr fixed3.50%3.49%
15 yr fixed2.65%2.67%
5/1 ARM2.93%2.94%
30 yr refi3.39%3.46%
15 yr refi2.67%2.70%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 18,261.45 -131.01 -0.71%
Nasdaq 5,305.75 -33.78 -0.63%
S&P 500 2,164.69 -12.49 -0.57%
Treasuries 1.61 -0.02 -1.04%
Data as of 9:05am ET
Company Price Change % Change
Apple Inc 112.71 -1.91 -1.67%
Bank of America Corp... 15.52 -0.08 -0.51%
Procter & Gamble Co 87.76 -1.23 -1.38%
Yahoo! Inc 42.80 -1.35 -3.06%
Chesapeake Energy Co... 6.63 -0.24 -3.49%
Data as of Sep 23

Sections

Wells Fargo is under increasing pressure to punish the executives who oversaw the bank during a massive fraud that involved creating more than 2 million unauthorized accounts. More

American voters of all different political and socioeconomic backgrounds tell CNNMoney they are really unhappy with Donald Trump and Hillary Clinton. The concern is whether they will stay home on Election Day -- or pull back on their spending. More

Twitter and Square CEO Jack Dorsey is putting a link to voter registration on everyone's digital Square receipts. More

The nationwide college financial aid form, FAFSA, has changed. That means you need to apply earlier -- as soon as October 1. Here's what you need to know. More