Foreclosure filings increased 41 percent in North Carolina and 25 percent in the Raleigh-Cary area in 2010, according to year-end data from RealtyTrac, a research firm based in Irvine, Calif.
That far outpaced filings for the entire U.S., which increased 2 percent.
There were 40,151 filings in North Carolina and 2.87 million across the entire country.
North Carolina had a foreclosure filing for every 45 homes. In Raleigh-Cary the rate was one for every 82 homes.
Foreclosure filings increased 14 percent in Durham in 2010 and occurred at a rate of one every 185.
Foreclosure activity dropped in the fourth quarter, RealtyTrac said, a slowdown that was attributed to the controversy about foreclosure documentation.
Five states accounted for 51 percent of all the foreclosure filings last year: California, Florida, Arizona, Illinois and Michigan.
RealtyTrac's data includes filings in all three phases of foreclosure: Notice of Default, Auction and Real Estate Owned, or REO.
For properties that have more than one filing during the year, RealtyTrac only counts the most recent.
Business reporter David Bracken came to the N&O in 2004. He covers commercial and residential real estate. Contact David at 919-829-4548 or
Comments
real estate
Mon, 01/24/2011 - 01:04 — leaderscorp<a href="http://www.leaderscorpfinancial.com" style="text-decoration:none"><strong>Mortgage industry after April of 2011 </strong>
I believe the answer to that, would be for the mortgage brokers and mortgage bankers to give more then what the big banks are giving to the public and to the real estate industry. It's a simple philosophy give and you will get much more in return. We have set our path for 2011 strategy and the execution of our strategy will begin in January 15th of 2011. Our strategy will create opportunities for real estate agents to have more business and develop for them a strategy for continuous growth in return to have a massive bonding strategy between the real estate agents in our market with our loan officers in exchange for the value that is provided by the services and the strategies we bring to our industry. All we would like to ask for the loan officers, the mortgage brokers and mortgage bankers that are in the industry and they are facing some financial trouble or facing frustration of growth and development for their office or their company to join us on Facebook and join our company so we could put our hands together and promote what banks can't promote, give the public and the real estate industry something that has never been provided and asking nothing in return.
Our formula for success in 2011 is the way of conquering markets, it's the new way to conquer this industry lets come together and turn this industry to our benefit and show the banks how hard it is going to be for them when we are taking their business away, and how much this industry is in a need for our breed of professionals.</a>
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