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Report: Bank Repos Increase In July


Bank repossessions of California homes increased from a year ago in July, bucking a national trend. July foreclosure completions in the United States were down nearly 30 percent from last year.

Despite the decrease nationally, California and a half-dozen other states saw increases in bank repossessions. In California, they were up by 22 percent. They were also up in Maryland, Oregon and New Jersey.

The numbers come from RealtyTrac. The research firm also says more than 13,000 California properties received some type of foreclosure filing in July; either a notice of default, a notice of auction or repossession. That was up about three percent from June and it was relatively flat from the same time last year.

California now has the 10th highest foreclosure rate in the country with about one-in-every one-thousand housing units with a foreclosure filing. 

 real estaterealtytrac

Steve Milne

Morning Edition Anchor & Reporter

Steve is the Morning Edition anchor for Capital Public Radio. He covers stories on a wide range of topics including: business, education, real estate, agriculture and music.  Read Full Bio 

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