November foreclosures up 68 percent

Filed under: Banking & Finance,Daily News,Real Estate | Tags:

The number of November foreclosure filings nationwide surged 68 percent compared with the same month a year ago.

Analysts from RealtyTrac say that in all, 201,950 foreclosure filings were reported last month, compared with 120,334 during November 2006.

Still, last month’s filings are down 10 percent from October’s 224,451.

The decline in filings from October to November likely corresponds with a lull in adjustable-rate mortgage resets.

That November numbers translate to one foreclosure filing for every 617 U.S. households for the month.

The filings include default notices, auction sale notices and bank repossessions. Some properties might have received more than one notice if the owners have multiple mortgages.