Foreclosure Numbers on the Rise - NBC4 Washington

Foreclosure Numbers on the Rise

Up from last month, but down from a year ago



    Foreclosure Numbers on the Rise
    Getty Images

    Despite the economy improving slowly but surely, the number of foreclosures are on the rise.

    The foreclosure listing firm RealtyTrac says foreclosures were up 8% in January from December.

    While that number seems bad, it’s down 15% from a year earlier.

    Unfortunately, the number of foreclosures is expected to rise because of a recent agreement between 49 states and the country’s largest mortgage lenders.

    The mortgage lenders were accused of “robo-signing” foreclosure forms, speeding up the process and at times foreclosing on homes that shouldn’t have been.

    As a result, an investigating was started, and the agencies temporarily stopped foreclosing on homes.

    Now that mortgage lenders are once again foreclosing, RealtyTrac projects foreclosures will go up 25% this year to around 1 million homes.