The number of Arizona homes in some stage of the foreclosure process dropped again in October compared to a year ago, and homes actually repossessed by banks also dipped.
Data released Thursday by foreclosure tracking firm RealtyTrac (http://www.realtytrac.com) shows lenders actually repossessed nearly 2,821 Arizona homes in September, 600 fewer homes than in September. New foreclosure filings rose slightly to about 3,900 last month.
October saw a 36 percent drop in homes being repossessed or receiving initial foreclosure filings compared to October 2011.
RealtyTrac says one in every 420 Arizona homes was in some stage of the foreclosure process last month.
The state dropped one position to No. 5 for foreclosure activity rate in the nation. Florida is No. 1 and Nevada No. 2.
rhoan_evans posted at 2:09 am on Sat, Feb 2, 2013.
Many homeowners have been facing foreclosure, especially in California. Thus, to give homeowners a better chance of keeping their homes, a new law has approved. Any struggling homeowner in California should look into this new bill in great depth to see if there are measures that can be taken to stop foreclosure on their home. For homeowners who have been foreclosed on, there may be an opportunity for monetary damages.