If you’re among the many looking to buy foreclosures at auction, don’t have any fear the decline in filings over the past several months will rob you of your chance at a fabulous buy.
Home foreclosure filings declined steadily from August through November 2009, but were still significantly higher than they were a year ago, according to RealtyTrac, a leading online marketplace for foreclosure properties.
Home foreclosure filings For November 2009 — including default notices, scheduled foreclosure auctions and bank repossessions — numbered 306,627, a decrease of nearly 8 percent from the previous month, but still up 18 percent from November 2008. That number means one in every 417 U.S. housing units received a foreclosure filing in November.
Default notices nationwide were down 8 percent from the previous month, but still up 22 percent from November 2008; scheduled foreclosure auctions were down 12 percent from the previous month, but still up 32 percent from November 2008; and bank repossessions were flat from the previous month and down 2 percent from November 2008.
Many of these homes will be sold at auction.
