Daren Blomquist is an analyst with the research firm. He says loan default notices also fell last month...
“…down 41% from March of ’09 to March 2010. That may be a piece of good news if that continues. We’re still dealing with all these properties that are already in the foreclosure process but there are fewer now entering that pipeline which may bode well for future months.”
Although the year-over-year numbers are down…the month-over-month figures are pretty high. Foreclosure filings jumped 36% between February and March.
Foreclosures began to ease last year as the Obama administration pressured banks to modify home loans. Some states like California enacted foreclosure moratoriums to give homeowners time to catch up on their payments. That helped slow the pace of foreclosures, but now the trend appears to be reversing.