Image via WikipediaThe number of homes repossessed by banks reached a record total of 102,134, crossing the 100,000 mark for the first time in a single month, according to
real estate data company RealtyTrac.
"Lenders foreclosed on a record number of properties in September and in the third quarter, taking a bite out of the backlog of distressed properties where the foreclosure process was delayed by foreclosure prevention efforts over the past 20 months," said CEO of RealtyTrac James Saccacio.
Foreclosure filings, which include default notices, scheduled auctions and bank repossessions, rose 3% in September to 347,420, and increased almost 1% from September 2009.
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