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Triangle foreclosure filings up sharply in January compared to same period last year

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Foreclosure filings in January in Durham, Johnston, Orange and Wake counties increased 119 percent compared to the same period last year, the N.C. Administrative Office of the Courts reported today.

Filings in the four counties totaled 738, which was close to the 749 filings reported in the four counties in January 2008.

There were 5,247 filings in North Carolina in January 2010.

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 occurred in Wake, which recorded 465. Next highest was Durham with 148, followed by Johnston with 95 and Orange with 30.

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About the blogger

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 e-mail him.