Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Foreclosures Rise Sharply in March

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Foreclosures Rise Sharply in March

Article excerpt

WASHINGTON - Foreclosure activity in the United States rose sharply last month, on an increase in bank repossessions, according to a report by industry firm RealtyTrac.

Foreclosures, which include foreclosure notices, scheduled auctions and bank repossession, were up 20 percent to a total of 122,060 last month, the group said on Thursday.

The increase pushed foreclosure activity up 4 percent from year- ago levels, the first annual rise since September 2010.

The report also included foreclosure activity for the first quarter, showing that foreclosures had dropped on a quarterly basis to their lowest in eight years.

A total of 313,487 properties were at some stage of the foreclosure process during the first three months of 2015, down 7 percent from the previous quarter. That was an 8 percent drop from the first quarter of 2014.

Bank repossessions surged 49 percent in March as lenders reclaimed 36,152 properties. Repossessions were up 25 percent from year-ago levels. …

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