Wisconsin foreclosure rates slip from September

Date: Thursday, November 11, 2010, 1:53pm CST

Read more: Wisconsin foreclosure rates slip from September | The Business Journal

October foreclosure rates in Wisconsin dipped 1.6 percent from September rates, but were 11.7 percent higher than in October of 2009.

Wisconsin ranked 17th-worst in the nation with 4,815 properties in some form of foreclosure in October, or one for every 534 households, according to industry tracker RealtyTrac Inc. of Irvine, Calif.

Foreclosures are defined as default notices, scheduled auctions and bank repossessions.

Nationally, foreclosures were reported on 332,172 properties in October -- a 4 percent decrease from September and almost exactly the same total reported in October 2009. One in every 389 U.S. housing units received a foreclosure filing during October 2010.

“October marks the 20th consecutive month where over 300,000 U.S. homeowners received a foreclosure notice,” said James Saccacio, CEO of RealtyTrac, in a statement. “The numbers probably would have been higher except for the fallout from the recent 'robo-signing' controversy, which is the most likely reason for the 9 percent monthly drop in REOs we saw from September to October and which may result in further decreases in November.”


Read more: Wisconsin foreclosure rates slip from September | The Business Journal