Foreclosures Up in July 26


distressedMore foreclosures in July – that’s the most critical piece of news being reported for the summer. Total foreclosures are down from this time last year, nearly 16%, but they’re up from June by 2%.

This includes many types of foreclosure activity like default notices, auctions, and repos. But it’s a pretty damning piece of evidence in the puzzle. Consider this: Summer is a strong time of year. If you’re going to drop your house as a sale it’s going to be now.

And yet, more than 100,000 homes went into foreclosure. That’s disappointing at best.

We all need to get out there and make sure this doesn’t keep happening. We need to be sure we are finding those properties that are about to fall by the wayside and build them up again. Find the deals, find the buyers, save the homeowners.

It’s all part of the same picture. Make sure you don’t rest easy this summer. Keep up the pressure and make sure you’re tuned into the right market.

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