After a year of declining foreclosure numbers, mostly the result of processing delays due to the “Robo-signing” controversy, 2012 started off with a 3 percent rise in national foreclosure filings, reported CNBC, February 16, 2012.
According to a report released by RealtyTrac, one in every 624 households received a foreclosure filing in the month of January, a 3 percent increase compared to December. States such as Florida, Illinois and Pennsylvania saw year-over-year increases for the first time in 12 months.
Experts expect that the $26 billion dollar government-lender/servicer settlement signed in early February should get the foreclosure process moving at a pace closer to what was seen before the robo-signing-induced delays.
Nationally, Nevada posted the highest foreclosure rate, with one of every 198 households receiving a foreclosure filing. Default notices, the first step of the foreclosure process, remained flat in January 2012.