The Virginian-Pilot
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By Josh Brown
The Virginian-Pilot
The number of foreclosure notices in Hampton Roads remained flat in October, according to a report to be released today.
Lenders issued 916 foreclosure-related notices last month, one more than the 915 issued in September, according to RealtyTrac, an online foreclosure-monitoring service based in Irvine, Calif.
However, the volume of new foreclosures was roughly half its level a year ago, the service reported.
The number of foreclosures in Hampton Roads has been trending downward almost all year. With the exception of July, foreclosures in the region have been below year-earlier levels since December, a sign that the problem could be easing.
Notices of bank repossessions and foreclosure auctions last month rose compared with October 2010 in Hampton, Newport News and Virginia Beach and fell in Chesapeake, Norfolk, Portsmouth and Suffolk.
Nationwide, foreclosure activity rose as 230,678 properties received notices, up 7 percent from September but down 31 percent from a year earlier. The national data include notices of default, the first stage of foreclosure after a homeowner misses mortgage payments.
Josh Brown, (757) 446-2318, josh.brown@pilotonline.com
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