Foreclosures top 300,000 for ninth straight month!
NEW YORK - December 10, 2009 - The number of Amerikan homeowners who received a foreclosure notice on their property exceeded 300,000 in November for the ninth successive month, according to the property listings site RealtyTrac, while unemployment remains above 10%.
Foreclosure filings - default notices, scheduled foreclosure auctions and bank repossessions - were reported on 306,627 U.S. properties in November, the data shows.
Although this represents a decrease of nearly 8% from October and is the fourth successive month of decrease, it is still up 18% from November 2008.
The report also shows that one in every 417 U.S. homes received a foreclosure filing in November.
James J. Saccacio, chief executive of RealtyTrac, said that after hitting a high in July, foreclosure activity in November was at its lowest level since February of this year. However, he warned that a full recovery was far off in the future.