Triangle foreclosure filings up sharply compared to last year

Foreclosure filings in Durham, Johnston, Orange and Wake counties totaled 1,516 through the first two months of 2010, a 72 percent increase over the same period the prior year, the N.C. Administrative Office of the Courts reports.

The four-county region accounted for 14 percent of the 10,881 foreclosure filings reported in North Carolina through the first two months of the year.

Foreclosure filings mark the start of the foreclosure process. Some homeowners will work out repayment plans. Others will lose their home to final foreclosure sales.

The most foreclosure filings in the Triangle in January and February occurred in Wake, which recorded 934. Next highest was Durham with 312, followed by Johnston with 210 and Orange with 60.

Foreclosure filings were also up sharply in Mecklenburg County, home to Charlotte. The county reported 1,744 filings through the first two months, a 95 percent increase over the same period in the previous year.