Foreclosures fell in October, but it’s not because fewer people are losing their homes. Instead, the market is seeing a temporary stay from banks freezing foreclose auctions to review loan documents.
Foreclosure filings of all kinds, including notices of default, notices of auctions and notices of auction sales, dropped 4.4% during the month, according to a report released by RealtyTrac on Thursday. But bank repossessions, the filing most affected by the freeze, shrank 8.7%.
via Repossessions fall 9% in October thanks to foreclosure freeze.
