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[RealtyTrac] 10% Drop In Foreclosures, Surge Expected Over Next Few Months


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RealtyTrac just released its monthly report [1] covering January foreclosure activity.

“January foreclosure numbers are exhibiting a pattern very similar to a year ago: a double-digit percentage jump in December foreclosure activity followed by a 10 percent drop in January,” said James J. Saccacio, chief executive officer of RealtyTrac “If history repeats itself we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternatives works.”

The Sand States [2] remain true to form (Nevada, Arizona, California, Florida)

In other words, the foreclosure rush in December to file by end of year, then subsequent lull in January do not suggest that the foreclosure problem is improving if seasonality has anything to say about it.